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    cutex08's Avatar
    cutex08 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Oct 15, 2009, 07:44 PM
    How can I journalize this transaction?
    1. Adams made initial investment of the ff:
    Cash 1,000,000
    Books 100,000
    Computers 120,000
    Tables 80,000
    2. Borrowed 200,000 from City Bank giving a note therefor.
    3. Income collected and billed:
    Cash collected from students 22,000
    Cash collected from service 21,000
    Notes accepted from students 13,000
    Tuition billed to others are:
    Jose 2,800
    Dan 3,500
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
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    #2

    Oct 16, 2009, 07:52 PM

    Please read the guidelines on posting homework problems:
    Ask Me Help Desk - Announcements in Forum : Homework Help
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