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9b connect CHAPTER 2: Required information [The following information applies to the questions...

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Accounting

9b connect CHAPTER 2:

Required information

[The following information applies to the questions displayed below.]

Rawlco Communications operates 10 radio stations. The following events occurred during September.

  1. Placed an order for office supplies costing $2,500. Supplier intends to deliver later in the month
  2. Purchased equipment that cost $30,000; paid $18,000 cash and signed a promissory note to pay $12,000 in one month.
  3. Negotiated and signed a one-year bank loan, and then deposited $6,000 cash in the company's checking account.
  4. Hired a new finance manager on the last day of the month.
  5. Received an investment of $10,000 cash from the company's owners in exchange for issuing common shares

*. Supplies [ordered in (a)] were received, along with a bill for $2,500.

2. Prepare journal entries to record each transaction. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

image
Journal entry worksheet 6 Purchased equipment that cost $30,000; paid $18,000 cash and signed a promissory note to pay $12,000 in one month. Record the transaction. Note: Enter debits before credits

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