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3 years ago

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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Infinity Corporation purchased equipment with a 10-year useful life and zero residual value for $10,000. At the end of the fifth

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Answer:

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