Following are the transactions of Dennen, Inc., for the month of January 2015. ...
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Accounting
| Following are the transactions of Dennen, Inc., for the month of January 2015. |
| a. | Borrowed $30,000 from a local bank. |
| b. | Lent $10,000 to an affiliate; accepted a note due in one year. |
| c. | Sold 100 additional shares of stock with a par value of $0.10 per share to investors for $500 cash. |
| d. | Purchased $15,000 of equipment, paying $5,000 cash and signing a note for the rest due in one year. |
| e. | Declared and paid $2,000 in dividends to stockholders. |
| Prepare the journal entry to record each of the above transactions for the month of January 2015. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
|
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