Details
Business transactions completed by Hannah Venedict during the month of September are as follows.
| a. | Venedict invested $84,000 cash along with office equipment valued at $23,000 in exchange for common stock of a new company named HV Consulting. |
| b. | The company purchased land valued at $35,000 and a building valued at $170,000. The purchase is paid with $35,000 cash and a long-term note payable for $170,000. |
| c. | The company purchased $1,700 of office supplies on credit. |
| d. | Venedict invested her personal automobile in the company in exchange for more common stock. The automobile has a value of $16,200 and is to be used exclusively in the business. |
| e. | The company purchased $5,400 of additional office equipment on credit. |
| f. | The company paid $1,900 cash salary to an assistant. |
| g. | The company provided services to a client and collected $7,000 cash. |
| h. | The company paid $645 cash for this month’s utilities. |
| i. | The company paid $1,700 cash to settle the account payable created in transaction c. |
| j. | The company purchased $20,300 of new office equipment by paying $20,300 cash. |
| k. | The company completed $6,750 of services for a client, who must pay within 30 days. |
| l. | The company paid $1,800 cash salary to an assistant. |
| m. | The company received $4,000 cash in partial payment on the receivable created in transaction k. |
| n. | The company paid $2,600 cash in dividends. |
| Required: | |
| 1. | Prepare general journal entries to record these transactions |
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