JOURNALIZING TRANSACTIONS
Monroe Company rents electronic equipment. During September 2009, Monroe engaged in the transactions described below.
Sept. 5 Purchased a Chevrolet truck for $32,000 cash
8 Purchased Sony amplifiers for $2,500 on account
10 Purchased $1,750 of office supplies on credit
11 Rented sound equipment to a traveling stage play for $15,000. The producer of the play paid for the service at the time it was provided.
12 Rented sound equipment and lights to a local student organization for a school dance for $5,100. The student organization will pay for services within 30 days.
Sept. 18 Paid employee wages of $4,300 that have been earned during September
22 Collected the receivable from the September 12 transaction
23 Borrowed $12,800 cash from a Citibank on a three-year note payable
28 Sold common stock to new stockholders for $35,750
30 Paid a $3,850 cash dividend to stockholders
JOURNALIZING TRANSACTIONS