Question

Write the journal entries m the given table for below transactions of Brave Corporation during June...

Write the journal entries m the given table for below transactions of Brave Corporation during

June 2020

1 Paid electricity bill for S125
2Sold products to customers on credıt for 3530.
3 New shares were issued for 5 12,000.
4 Purchased equipment on account for S3,500.
D|Customers in transaction 2 paid their due in full

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Answer #1

Journal entries

of Brave Corporation, For June 2020.

Date Account titles & explanation Debit Credit
1 June 2020 Electricity Expense $125
Cash $125
(Recording of payment of electricity bill)
2 June 2020 Accounts Receivable $3530
Revenue $3530
(Recording of Sales on credıt)
3 June 2020 Cash $512,000
Common Stock $512,000
(Recording of issue of shares in cash)
4 June 2020 Equipment S3,500
Accounts Payable S3,500
(Recording of purchase of equipment on credit)
5 June 2020 Cash $3,530
Accounts Receivable $3,530
(Recording of cash received from customers)

Thanks & all the best....

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