Journal Entry help please!
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1. Issued 10, 000 shares of capital stock in exchange for $150,000 cash
2. Purchased land and a building for a total price of $175,000. The land was assigned a value of $75,000, with the balance assigned to the building. $50,000 was paid in cash, and a note payable was signed for the balance
3. Acquired office furniture and fixtures for $25,000 cash
4. Billed a customer, hrebenak investments, $15,000 for consulting services
5. Received a bill from acme advertising, $5,000 for advertising services, payment due by march 19.
6. Received a bill from Lucas printing for printing services, $690, payment due July 1.
7. Received partial payment from hrebenak investments, $5,000
8. Paid the bill from acme advertising
9. Received an additional payment from hrebenak investments, $7,000
How come my totals don't add up on both sides? I get Debit: 87, 690 and credit: 145, 690. Can anyone help please?
