Answer:
Sustain Company
<u><em>General Journal </em></u>
June 1
Cash $18,000 (debit)
Common Stock $18,000 (credit)
<em>Cash Received in Exchange of Common Stock</em>
June 2
Furniture $11,000 (debit)
Accounts Receivable $11,000 (credit)
<em>Furniture purchased on credit</em>
June 3
Prepaid Insurance $2,000 (debit)
Cash $2,000 (credit)
<em>Insurance paid in advance</em>
June 4
Accounts Receivable $10,000 (debit)
Service Revenue $10,000 (credit)
<em>Service rendered on credit</em>
June 12
Accounts Payable $11,000 (debit)
Cash $11,000 (credit)
<em>Payment made to suppliers</em>
June 20
Cash $10,000 (debit)
Accounts Receivable $10,000 (credit)
<em>Cash payment received from Accounts</em>
June 21
Cash $17,000 (debit)
Common Stock $17,000 (credit)
<em>Cash Received in Exchange for Common Stock</em>
June 30
Cash $12,000 (debit)
Deferred Revenue $12,000 (credit)
<em>Cash Received for the Services to be Rendered</em>
Explanation:
See the journal Entries and Narrations that i have prepared above.
