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trinwaring
trinwaring
26.05.2021 • 
Business

Following are the transactions of Sustain Company. June 1 T. James, owner, invested $16,000 cash in Sustain Company in exchange for common stock. 2 The company purchased $9,000 of furniture made from reclaimed wood on credit. 3 The company paid $1,600 cash for a 12-month insurance policy on the reclaimed furniture. 4 The company billed a customer $8,000 in fees earned from preparing a sustainability report. 12 The company paid $9,000 cash toward the payable from the June 2 furniture purchase. 20 The company collected $8,000 cash for fees billed on June 4. 21 T.James invested an additional $15,000 cash in Sustain Company in exchange for common stock. 30 The company received $10,000 cash from a client for sustainability services for the next 3 months. Prepare general journal entries for the above transactions.

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