John smith started a consulting business and completed the, Ask an Expert

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John Smith started a consulting business and completed the following transactions. Prepare all journal entries related to these transactions.

a. Incorporated the business and invested $10,000 for the issuance of common stock.
b. Paid $2,000 monthly rent for office space.
c. Purchased $3,000 of office equipment, paying cash.
d. Recorded $1,000 of revenue, receiving cash.
e. Recorded $1,500 of revenue on account and mailed invoices to the customer.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9167520

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