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Practice Exam Time Limit 3:30:00 Time Left:20:38 Basil Sebastian Attempt Winslow Corporation opened in August 2018 and completed the following transactions during August: a. Cash of $25,000 and equipment of $36,000 was invested in the company in exchange for common shares. b. Paid office rent for $1,500 for the month. c. Purchased supplies, on account, for $11,400 from Browns Corp. that will be used over the next couple of months. d. Purchased $15,000 of merchandise inventory on credit. e. Paid salaries of $3,800 for the month. f. Performed a sale for $12,000 on credit. g. The merchandise inventory for transaction f above cost $4,800. h. Paid $12,000 on merchandise inventory previously purchased. i. Received $5,540 from customers on account. j. Declared and paid a $2,500 dividend. Analyze the transactions above and prepare the journal entries in the general journal provided below. Note: Once you click in the table below, you can drag the dotted triangle at the bottom right corner of the text editor window to make it bigger. If you accidentally delete the below table, you can add a new one using the rich- text editor, or try to make your answer as clear as possible using paragraphs and spaces. Format BIU- Dane ACT Debit Credit Next Page Page 1 of 10

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