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PA 11. The following information is provided for the first month of operations for Legal...

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Accounting

PA 11.

The following information is provided for the first month of operations for Legal Services Inc.:

  1. The business was started by selling $100,000 worth of common stock.
  2. Six months rent was paid in advance, $4,500.
  3. Provided services in the amount of $1,000. The customer will pay at a later date.
  4. An office worker was hired. The worker will be paid $275 per week.
  5. Received $500 in payment from the customer in C.
  6. Purchased $250 worth of supplies on credit.
  7. Received the electricity bill. We will pay the $110 in thirty days.
  8. Paid the worker hired in D for one weeks work.
  9. Received $100 from a customer for services we will provide next week.
  10. Dividends in the amount of $1,500 were distributed.

Prepare the necessary journal entries to record these transactions. If an entry is not required for any of these transactions, state this and explain why.

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