[Staci0115]

Prepare general journal entries for the following transactions:

Mar 1 Sold 1,000 shares of the compnay's no-par preferred stock for $9,000 cash.
1 Borrowed $10,000, signing a promissory note.
7 Purchased production equipment for $11,000 cash
8 Purchased inventory for $1400 on account.
9 Purchased office furniture for $3000 cash.
18 Paid for the inventory supplies purchased on March 8.

[pready]

Mar 1 Debit Cash
Credit Paid-in Capital

Mar 1 Debit Cash
Credit Notes Payable

Mar 7 Debit Equipment
Credit Cash

Mar 8 Debit Inventory
Credit Accounts Payable

Mar 9 Debit Office Furniture
Credit Cash

Mar 18 Debit Accounts Payable
Credit Cash