a Borrowed 34000 cash from a bank signing a note due in thre

a. Borrowed $34,000 cash from a bank, signing a note due in three years. nt for $24,000, paying $6,000 in cash and owing the rest on to the f. Pald $4,000 to the in (a) above Journal entry worksheet C.

Solution

a Cash 34000           Notes payable 34000 b cash 22500 (900*25)           Common stock 90           Paid in value in excess of par - common stock 22410 c Warehouse 123000            cash 27000             Notes payable 96000 d Computer and office equipment 24000            Cash 6000             Accounts payable 18000 e Notes receivable 3000              Cash 3000 f Accounts payable 4000               cash 4000 g Investment 14000               Cash 14000