Never use plagiarized sources. Get Your Original Essay on
Question: On March 1^st, 2014, Lee Ann began a new business called MR Arts. The following five transactions…
Hire Professionals Just from $11/Page
Order Now Click here
Question: On March 1^st, 2014, <a href=Lee Ann began a new business called MR Arts. The following five transactions…” />

Show transcribed image text On March 1^st, 2014, Lee Ann began a new business called MR Arts. The following five transactions were completed by the business during March. (March 1) Lee Ann invested 0,000 cash in the company. (March 3) Purchased land and a small building for $500,000, paying $200,000 cash and signing a note payable for the balance. The land was considered to be worth $300,000 and the building $200,000. (March 4) Purchased art supplies for $10,000. Paid $5,000 cash and agreed to pay the balance within 60 days. (March 8) Paid the balance owed on the art supplies purchased March 4. March 9) Borrowed $20,000 from a bank and signed a note payable due in six months. record the above transactions in the General Journal below:

On March 1^st, 2014, Lee Ann began a new business called MR Arts. The following five transactions were completed by the business during March. (March 1) Lee Ann invested $300,000 cash in the company. (March 3) Purchased land and a small building for $500,000, paying $200,000 cash and signing a note payable for the balance. The land was considered to be worth $300,000 and the building $200,000. (March 4) Purchased art supplies for $10,000. Paid $5,000 cash and agreed to pay the balance within 60 days. (March 8) Paid the balance owed on the art supplies purchased March 4. March 9) Borrowed $20,000 from a bank and signed a note payable due in six months. record the above transactions in the General Journal below:

Open chat
Lets chat on via WhatsApp
Hello, Welcome to our WhatsApp support. Reply to this message to start a chat.