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Journalize Transactions

Journalize Transactions

Journalize Transactions

Four transactions that occurred during May are listed below.

  1. May 5: Borrowed cash of $40,000 from Middle State Bank.
  2. May 10: Made cash sales of $28,500 to customers.
  3. May 19: Paid salaries of $15,600 to employees for services performed.
  4. May 22: Purchased and used $7,100 of supplies in operations of the business.

Required:

 

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Prepare journal entries for the transactions.



 
 
       
May 5
 
 
 
 
 
 
 
 
(Record borrowing of cash from bank)
   
       
10
 
 
 
 
 
 
 
 
(Record cash sale)
   
       
19
 
 
 
 
 
 
 
 
(Record payment of salaries)
   
       
22
 
 
 
 
 
 
 
 
(Record purchase of supplies)
   
       
22
 
 
 
 
 
 
 
 
(Record use of supplies)
   
       

 

 
manish jayant 09-Sep-2020

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