Karen's Flower Shop began business as a corporation in 2017.Several transactions which occurred early in 2017 are described below.Record each transaction in proper form,excluding written explanations,in the general journal provided.
?
A) January 23, 2017: Stockholders invested cash of $\$ 70,000$ in the business and received 7,000 shares common stock as evidence of their ownership interest.

B) February 1,2017: Rent of $\$ 1,600$ was paid for the month of February.

C) February 7,2017: Equipment with a cost of $\$ 3,000$ was purchased on credit; payment is due within 30 days.

D) February 14,2017: Bills totaling $\$ 5,400$ were presented to customers for flower arrangements created and delivered; $\$ 2,900$ was received in cash immediately; the balance of $\$ 2,500$ is due within 10 days.

E) February 18,2017: Full payment was made for the equipment purchased on February 7 .

F) February 22, 2017: Payment of $\$ 1,900$ was received from customers with balances due from February 14.

G) February 28,2017: Employee salaries of $\$ 3,300$ were paid. ?
$\begin{array}{llr}
&&\text { General Journal }\
\text { Date } & \text {Account Titles and Explanations } &\text {Post Ref. } & \text { Debit} \
\end{array}$

Question

Karen's Flower Shop began business as a corporation in 2017.Several transactions which occurred early in 2017 are described below.Record each transaction in proper form,excluding written explanations,in the general journal provided.
?
 A) January 23, 2017: Stockholders invested cash of $\$ 70,000$ in the business and received 7,000 shares common stock as evidence of their ownership interest.

B) February 1,2017: Rent of $\$ 1,600$ was paid for the month of February.

C) February 7,2017: Equipment with a cost of $\$ 3,000$ was purchased on credit; payment is due within 30 days.

D) February 14,2017: Bills totaling $\$ 5,400$ were presented to customers for flower arrangements created and delivered; $\$ 2,900$ was received in cash immediately; the balance of $\$ 2,500$ is due within 10 days.

E) February 18,2017: Full payment was made for the equipment purchased on February 7 .

F) February 22, 2017: Payment of $\$ 1,900$ was received from customers with balances due from February 14.

G) February 28,2017: Employee salaries of $\$ 3,300$ were paid. ?
 $\begin{array}{llr}
&&\text { General Journal }\
  \text { Date  } & \text {Account Titles and Explanations  } &\text {Post Ref.  } & \text {  Debit} \
\end{array}$

Quizplus · Accepted Answer

The Answer of Karen's Flower Shop began business as a corporation in 2017.Several transactions which occurred early in 2017 are described below.Record each transaction in proper form,excluding written explanations,in the general journal provided.
?
 A) January 23, 2017: Stockholders invested cash of $\$ 70,000$ in the business and received 7,000 shares common stock as evidence of their ownership interest.