Question

Bearcat Construction begins operations in March and has the following transactions.

Answer 1

Answer:

Bearcat Construction

General Journal

March 1

Cash $17,500 (debit)

Common Stock $17,500 (credit)

Cash Received in Exchange of Common Stock

March 5

Cash $8,300 (debit)

Note Payable $8,300 (credit)

Cash received from Bank Loan

March 10

Equipment (debit)

Cash (credit)

Purchase of Equipment by Cash

March 15

Advertising Expenses (debit)

Cash (credit)

Advertising Expense paid in Cash

March 22

Accounts Receivable $17,300 (debit)

Service Revenue $17,300 (credit)

Service Rendered on Credit

March 27

Cash $17,300 (debit)

Accounts Receivable $17,300 (credit)

Cash Received from Accounts Receivables

March 28

Salaries Expense $5,300 (debit)

Cash $5,300 (credit)

Salaries paid in Cash

Explanation:

See the Journal Entries and Narrations that i have prepared above.