Placed an order for office supplies costing $1,700
Prepare journal entries to record each transaction. (If no entry is required for a transaction/event, select “No Journal Entry Required” in the first account field.)a.Placed an order for office supplies costing $1,700. Supplier intends to deliver later in the month. Record the transaction.b.Purchased equipment that cost $22,000; paid $6,000 cash and signed a promissory note to pay $16,000 in one month. Record the transaction.c.Negotiated and signed a one-year bank loan, and then deposited $5,000 cash in the company’s checking account. Record the transaction.d.Hired a new finance manager on the last day of the month. Record the transaction.e.Received an investment of $10,000 cash from the company’s owners in exchange for issuing common shares. Record the transaction.f.Supplies [ordered in (a)] were received, along with a bill for $1,700. Record the transaction.
