Recording transactions in general journal
Enter the following transactions in the two-column journal of Festive Parties Limited Include a brief explanation of the transaction as part of each journal entry.
June $\quad $ 2 $\quad $Collected an account receivable of $ \$ 860 $ from a customer, East Limited
$\quad $ $\quad $ 5 $\quad $ $\quad $Issued a check for $ \$ 430 $ in full payment of an account payable to North Limited
$\quad $ $\quad $9 $\quad $ $\quad $ Borrowed $ \$ 12,000 $ cash from the bank by signing a 120 -day note payable.
$\quad $ $\quad $12 $\quad $ $\quad $ Issued an additional 3,000 shares of share capital in exchange for $ \$ 45,000 $ cash.
$\quad $ $\quad $15 $\quad $ $\quad $ Purchased equipment for the business. The pricewas $ \$ 13,000 $, of which $ \$ 3,000 $ was paid in cash; a note payable was issued for the balance.
$\quad $ $\quad $21 $\quad $ $\quad $ Acquired office furniture from West Company for $ \$ 1,100 $ on account.

Question

Recording transactions in general journal
Enter the following transactions in the two-column journal of Festive Parties Limited Include a brief explanation of the transaction as part of each journal entry.
 June $\quad $ 2  $\quad $Collected an account receivable of $ \$ 860 $ from a customer, East Limited
 $\quad $ $\quad $ 5  $\quad $ $\quad $Issued a check for $ \$ 430 $ in full payment of an account payable to North Limited
 $\quad $ $\quad $9 $\quad $ $\quad $ Borrowed $ \$ 12,000 $ cash from the bank by signing a 120 -day note payable.
 $\quad $ $\quad $12 $\quad $ $\quad $ Issued an additional 3,000 shares of share capital in exchange for $ \$ 45,000 $ cash.
 $\quad $ $\quad $15 $\quad $ $\quad $ Purchased equipment for the business. The pricewas $ \$ 13,000 $, of which $ \$ 3,000 $ was paid in cash; a note payable was issued for the balance.
 $\quad $ $\quad $21 $\quad $ $\quad $ Acquired office furniture from West Company for $ \$ 1,100 $ on account.

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The Answer of Recording transactions in general journal
Enter the following transactions in the two-column journal of Festive Parties Limited Include a brief explanation of the transaction as part of each journal entry.
 June $\quad $ 2  $\quad $Collected an account receivable of $ \$ 860 $ from a customer, East Limited
 $\quad $ $\quad $ 5  $\quad $ $\quad $Issued a check for $ \$ 430 $ in full payment of an account payable to North Limited
 $\quad $ $\quad $9 $\quad $ $\quad $ Borrowed $ \$ 12,000 $ cash from the bank by signing a 120 -day note payable.
 $\quad $ $\quad $12 $\quad $ $\quad $ Issued an additional 3,000 shares of share capital in exchange for $ \$ 45,000 $ cash.
 $\quad $ $\quad $15 $\quad $ $\quad $ Purchased equipment for the business. The pricewas $ \$ 13,000 $, of which $ \$ 3,000 $ was paid in cash; a note payable was issued for the balance.
 $\quad $ $\quad $21 $\quad $ $\quad $ Acquired office furniture from West Company for $ \$ 1,100 $ on account.

Recording Transactions in General Journal Enter the Following Transactions in the Two-Column

Recording Transactions in General Journal
Enter the Following Transactions in the Two-Column