Bookmarks Develop Safari File Edit View History This window

Bookmarks Develop Safari File Edit View History This window shows what is correct and incorrect for the work you have completed so far ven if all of the work you have done so far is correct, you may not have completed everything 10.00 points Following are the transactions of Dennen, Inc., for the month of January. a. Borrowed $18,000 from a local bank. b. Lent $10,200 to an affiliate; accepted a note due in one year. c. Sold to investors 80 additional shares of stock with a par value of $0.10 per share and a market price of $15 per share; received cash. d. Purchased $21,000 of equipment, paying $13,500 cash and signing a note for the rest due in one year. e. Declared and paid $2,500 in dividends to stockholders. Prepare the journal entry to record each of the above transactions for the month of January.(f no entry is required for a transaction/event, select required\" in the first account field.) Answer is not complete. Debit Credit 18,000 General Journal No Cash 18,000 Accounts payable 3 10,200 10.200 Cash Cash 21,000 13.500 7,500 Cash Notes payable Cand No jounal entry required Overdi

Solution

No Transaction Account Debit Credit 1 a Cash 18000 Note payable 18000 2 b Note receivable 10200 Cash 10200 3 c cash 1200 common stock 8 additional paid in capital common stock 1192 4 d equipment 21000 cash 13500 note payable 7500 5 e retained earnings 2500 dividends payable 2500 dividends payable 2500 cash 2500