Prepare journal entries in the Excel Template provided for you.
- Deposit $150,000 to Cash
- For the description, write: Initial deposit from owner
For 6/3/2015:
- Buys for cash furniture and equipment from Weiss for $50,000.
- For the description, write: For furniture and equipment from Weiss
For 6/10/2015:
- Deposit the amount of $40,000 from Pat B for Consulting Revenue
- For the description, write: Work completed on 6/10/15 for Pat B
For 6/20/2015:
- Pay Wans for $5,000 for purchase of supplies
- For the description, write: For purchase of supplies from Wansi
For 6/30/2015:
- Deposit the amount of $120,000 from Bill Mak for Consulting Revenue
- For the description, write: Work completed on 6/30/2015 for Bill Mak
For 6/30/2015:
- Pay #1 Employee $3,000
- For the description, write: Payroll expense to #1 Employee for month of June 2015