Path p QUESTION 15 10 points Save A In the month of March the following transact
ID: 2576387 • Letter: P
Question
Path p QUESTION 15 10 points Save A In the month of March the following transactions were made 3/1 Shareholders invested $10,000 cash in the business by purchasing common stock /5 Purchased supplies on account, $6,250 3/12 Paid operating expenses, $5,500. /15 Billed clients for foes, $7,440. 3/20 Received cash from cash clients, $4,700 3/21 Paid creditors on account, $1,400 3/26 Received $3,100 from clients on account 3/31 Paid $500 cash dividends Uaing the following accounts: Cash: Accounts Recelvable,Supplioes Accounts Payable; Common Stook; Dwidende, Profesasional Foox, and Operating Expenses, record lournal entrie uain following format For the toolbar, press ALT F10 (PC) or ALT-FN+F10 (Mac) Path: p 6 points Save Answer QUESTION 16Explanation / Answer
Date Particulars Debit($) Credit($)
1/3 Cash 10000
To common stock 10000
1/5 Supplies 6250
To accounts payable 6250
12/3 Operating expenses 5500
To cash 5500
15/3 Accounts receivable 7440
To professional fee 7440
20/3 Cash 4700
To Professional fee 4700
21/3 Accounts payable 1400
To cash 1400
26/3 Cash 3100
To accounts receivables 3100
31/3 Dividends 500
To cash 500.