Q2. ABC Ltd. completed the following transactions during April 2018, it’s first month of operation.

Question

Apr. 1 Received $20,000 and issued common shares.
Apr. 2 Purchased $500 office supplies on account.
Apr. 8 Paid $10,000 cash for land used for business purpose.
Apr. 10 Performed service for customers and received cash for $6,000.
Apr. 15 Paid $500 on accounts payable.
Apr. 30 Paid the following expenses: Salary - $1,000; Rent - $800.
Required:
a. Following the proper transaction format, prepare the journal entries on the above transactions for ABC Ltd. Each entry must have the date, account name(s), amounts, and explanation.