Asked by Anne
Please prepare the following journal entries. Indicate which account should be debited and which account should be credited along with the dollar amount of the debit and credit.
a) Investors invested $100,000 in exchange for 10,000 shares of common stock.
b) Company paid a utility bill for $600
c) Company received cash of $15,000 for services performed
d) Company made payment on account for $1,000
e) Company received $12,000 for services not yet performed
a) Investors invested $100,000 in exchange for 10,000 shares of common stock.
b) Company paid a utility bill for $600
c) Company received cash of $15,000 for services performed
d) Company made payment on account for $1,000
e) Company received $12,000 for services not yet performed