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Goshia [24]
3 years ago
5

Journalize the following transactions for Cullumber Company.

Business
1 answer:
Thepotemich [5.8K]3 years ago
3 0

Answer and Explanation:

The journal entries are shown below

On Sept 1

Supplies Dr $1,020

    To Cash $1,020

(being supplies purchased in cash)

On Sept 5

Dividend Dr $410

   To cash $410

(being cash dividend is paid)

On Sept 7

cash Dr 5,500

   To Unearned service revenue  $5,500

(being cash collection is recorded)

On Sept 16

Cash Dr $770

  To Account receivable $770

(being cash collection is recorded)

On Sept 22

Equipment Dr $3,000

         To cash $1,100

         To Note payable $1,900

(being equipment purchased is recorded)

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The correct answer to this open question is the following.

Although there are no options attached we can say the following.

Although today’s Modern economy looks much different compared to our earlier Colonial and Civil War-era economies, the similarities I still see in terms of trade partners, use of environmental resources, government regulation, and type of goods/products sold are the following.

Businesses are still business no matter the time in history. They are created to make profits.

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To this day, businesses are driven by money, power, and control, and these have been teh causes of major differences between companies, states, individuals, and countries.

6 0
3 years ago
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Enforceable

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Answer:

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