JOURNAL ENTRIES
• JOE’S BARBER SHOP RECEIVED $40,00 CASH FROM OWNERS AND ISSUED COMMON STOCK TO THEM
• CASH $40,000• COMMON STOCK $40,000
• THE BUSINESS PAID $10,000 CASH FOR LAND
• LAND $10,000• CASH $10,000
• THE COMPANY PURCHASED SUPPLIES FOR CASH OF $500
• SUPPLIES $500• CASH $500
• SUPPLIES WERE PURCHASED FOR CASH OF $900
• SUPPLIES $900• CASH $900
• SUPPLIES WERE PURCHASED FOR $200 CASH
• SUPPPLIES $200• CASH $200
• SUPPLIES WERE PURCHASED ON CREDIT FOR $700
• SUPPLIES $700• ACCOUNTS PAYABLE $700
• SUPPLIES WERE PURCHASED ON CREDIT FOR $100
• SUPPLIES $100• ACCOUNTS PAYABLE $100
• SUPPLIES WERE PURCHASED FOR CASH OF $2000
• SUPPLIES $2000• CASH $2000
• INVENTORY WAS PURCHASED FOR $3000 CASH
• INVENTORY $3000• CASH $3000
• INVENTORY WAS PURCHASED FOR $5000 CASH
• INVENTORY $5000• CASH $5000
• INVENTORY WAS PURCHASED ON CREDIT FOR $1000
• INVENTORY $1000• ACCOUNTS PAYABLE $1000
• INVENTORY WAS PURCHASED FOR $4000 ON CREDIT
• INVENTORY $4000• ACCOUNTS PAYABLE $4000
• MARKETABLE SECURITIES WERE PURCHASED FOR CASH OF $8000
• MARKETABLE SECURITIES $8000• CASH $8000
• THE OWNERS INVESTED AN ADDITIONAL $20,000 INTO THE BUSINESS
• CASH $20,000• COMMON STOCK $20,000
• THE OWNERS INVESTED $60,000 INTO THE COMPANY
• CASH $60,000• COMMON STOCK $60,000
• SOLD HAIRCUTS FOR THE DAY OF $2000
• CASH $2000• SALES $2000
• SOLD HAIRCUTS FOR THE DAY FOR $1,000
• CASH $1000• SALES $1000