the following transactions occurred during july:

On July 30, the fund had $12 cash remaining and petty cash receipts for postage $14, office supplies $10, and delivery expense $15. 3. 2. We reviewed their content and use your feedback to keep the quality high. Received $600 from a customer as payment for services performed during Jun, The following transactions occurred during July: 1. QN= 97 The following transactions occurred during July: QN=98 If Tim Jones, the owner of Jones Hardware proprietorship, uses cash of the business to purchase a family automobile, the business should record this use of cash with an entry to: d. Debit Tim Jones, Withdrawals and credit Cash. An asset created by prepayment of an expense is: Recorded as a debit to a prepaid expense account. Assume all Retained Earnings transactions relate to the primary purpose of the business. 6. 4. Borrowed $3,400 from the bank and signed a promissory note. Certain states have no state income tax June 3: P, Mike Greenberg opened Clean Window Washing Inc. on July 1, 2014. ales Received $1.080 cash for services provided to a customer during July. A. all states have income tax A company acquired $17,500 by issuing common stock. c. June 15: Made cash sales of $21,400 to customers. 3. 3. Pellentesque dapibus effici, or nec facilisis. 1 Issued 9,000 additional shares of common stock for $11 per share. Received $4,400 cash investment from Bob Johnson, the owner of the business. Credit terms were 2/10, and n/30. c. Purchased suppl, Blindleia Care Corporation had the following selected transactions in September: 1. Borrowed $6,000 from the bank by signing a promissory note. 4. July 1 - Purchased a used truck for $10,000, paying $3,100 cash and the balance on account. Provided services to a customer on credit, $495. $637 c. $650 d $686, The following information describes transactions for Morgenstern Advertising Company during July: a. Gross earnings A company purchased $2,200 of merchandise on July 5 with terms 3/10, n/30. Revenue recognition states that revenue is recorded when it is realized, or realizable and earned, as opposed to received. Received $5,000 from issuance of stock to investors. copyright 2003-2023 Homework.Study.com. Question: The following transactions occurred during July: 1. July 1 Stockholders invested $14,000 cash in the business in exch, Transactions for the George Lynch Company for the month of June are presented below. During the month of February, Hoffer Company had cash receipts of $7,500 and cash disbursements of $8,600. $1,564 c. $200. A company received $6,000 cash for services rendered. 12.- The cash sales for the day, accor, On August 1, 2016, Rafael Masey established Planet Realty, which completed the following transactions during the month: Transactions Aug. 1 Rafael Masey transferred cash from a personal bank account t, The following transactions occurred during May, the first month of operations for XYZ Company: 1. Provided services to a customer on credit, $375. What amount is received as payment in full on July 24? Only transaction #1 and #4 apply to revenue recognition. Issued common stock to owners in exchange for $34,000 cash. Bought $8,986 of merchandise, $3,410 for cash, and $5,576 on account. Please briefly explain why you feel this answer should be reported. 2003-2023 Chegg Inc. All rights reserved. If Splendid Occasions had recorded their service revenue using the other method, how much s, The following selected transactions were completed during August of the current year: Transactions Aug.1 Billed customers for fees earned $74,050. July 1 Purchased supplies on account for $1,500. Bank loans of $18,000 were paid off. Issued common stock for $21,600 cash. Received $1.250 cash from a customer for services to be rendered next year. Provided services to a customer on credit, $375. For those boxes in which you must enter subtractive or negative numbers use a minus sign. 3) Paid October's utility bill of $600. Received $1,700 cash for services performed during July. Cash balance per books, July 31, $7,864. On June 24, it paid the balance owed for the merchandise taking any discount it was entitled to. 1) Journalize the July transactions. The company performed $20,000 of services for customers on account. On July 8, it paid the full amount due. The following transactions occurred during July: 1. 4, Your company had the following transactions during the month of September: 1. Received $8,150 cash from the issuance of common stock to owners. Ask a Question; . The following transactions occurred during July: 1. The following transactions took place in June: a. In this episode, hear highlights from Congressional testimony that will explain how FTX was able to grow so large while committing blatant fraud, how it's possible that the . c. Received $750 from a customer in partial payment of his account receivable, which arose from sales in June. What is the last day for taking the cash discount? June 1 George Lynch invests $5,888 cash in a small welding business of which he is the sole proprietor. 2. 1. On July 7, it returned $240 worth of merchandise. Received 900 cash for services provided to a customer during July2. During the month of July, the company had the following activities: a. C. $1,568. During July, the following transactions occurred: July 1 Purchased $11,800 of merchandise on account July 10 Purchased $1,900 of merchandise with cash July 15 Purchased $900 of office supplies on. D. $1,60. QN=89 Which is true about An account balance: c. Is the difference between the total debits and total credits for an account including the beginning balance. 2. Laurie Dexter starts a business called Camden Cleaning. How would Landscape by Design record this transaction? On June 20, it returned $435 of that merchandise. Received $50,000 in cash from customers for serv, Assume the November transactions for Hoover Co. are as follows: a. 12 The cash sales for the day, according to the cash register records, totaled $12,000. 1 Purchased used, Ruwi Construction Company had the following transactions during June 2016: (1) Issued ordinary shares in exchange for 35,000 cash on June 1. Received $2,200 cash investment from Barbara Hanson, the owner of the business. The following transactions occurred during July: 1. Please briefly explain why you feel this user should be reported. The company paid cash. d. On June 24, it paid the balance owed for the merchandise taking any discount it was entitled to. Issued $60,000 of common stock for cash. 3. The following transactions occurred during July 1. Received $750 from a customer in partial payment of his account receivable which arose "from sales in June. Paid a $27,200 cash, The following transactions apply to Park Co. for 2016: 1. Borrowed $4,540 from a local bank on a note due in six months. On July 8, it paid the full amount due. Which of the following items would appear on the income statement? &x+2 y \geq 4 \\ Mark paid, A credit sale of $900 is made on July 15, terms 2/10, n/30, on which a return of $50 is granted on July 18. 2. Received $750 from a customer in partial payment of his account receivable which arose "from sales in June. Received $940 from a customer in partial payment of his account receivable which arose from sales in June. Billed $4,850 to customers for services performed on account in July. 4. During July the following transactions were completed. Pellentesque dapibus ef, dictum vitae odio. Performed services for $43,000 cash. 2 Buys equipment on account for $1,100. March 1 Issued common stock for $20,000 cash. Nam risus ante, dapibus a molestie con, ia pulvinar tortor nec facilisis. 3. 104$^\circ$F, *Graph the syst em of linear inequalities and indicat e the solution set. Issued 10,000 shares of common stock for $15,000 cash. Prepare journal entries to record the following selected July transactions. Dec 23 2022 1 hr 21 mins. Opened business by issuing common stock for $36,000. Rec eived $2,200 cash investment from Barbara Seah, . B. July 1 Stockholders invested $20,000 cash in the business in exchange for common stock. Received $1,400 cash for services performed during July. Acquired $20,000 by issuing common stock. A credit sale of $750 is made on June 13, terms 2/10, n/30. C. All states have a flat state Received $900 cash for services provided to a customer during July. 3. Received $5,000 from issuance of stock to investors. July 1: Purchased used truck. 1. 1. 3) Bought RM500 of office supplies on credit. Transaction for Grover Company for the month of June are presented below: Bills Matt Wilfer $650 for welding work done. 5. Borrowed $6,000 from the bank by signing a promissory note. b. Journalize this transaction. Issued common stock for $5,600 cash. Paid $10,800 cash to buy equipment. 4) Transaction no. It is followed by a return of $50 on June 16. A few days later, a contract with a 5 percent retainage clause was signed with Paltrow Construction for the complex. On July 7, it returned $410 worth of merchandise. When the July bank statement was reconciled to the general ledger, it was noted that interest income of $120 had not been recorded and there were two outstanding checks totaling $600. $410 b. Billed $4,400 to customers for services performed on account in July. The February 28 cash balance was $1,800. The payment from Rymex was received on September 20. The cash paid on June 24 equ. Provided services to a customer . 2. The following transactions occurred during the month of July 2014: A company received $2,000 cash for its services to be performed later. July 8 Billed customers for $3,000. 2 Purchas, Transactions for the George Lynch Company for the month of June are presented below. Received $940 from a customer in partial payment of his account receivable which arose from sales in June. The following transactions occurred during July: 1. Received $2,200 cash investment from Barbara Hanson, the owner of the business. 2. Journalize BullsEye's transactions for July 10, 2011. Received $750 from a customer in partial payment of his account receivable which arose from sales in June.4. 2. 2. Hallihan Company completed the following selected transactions during June 2010: June 1.- Established a petty cash fund of $500. All rights reserved. Recorded as a debit to a prepaid expense account. c. $3,528. 1. During July, the following transactions were completed. 2. 3) Earned $700 of revenues. Paid expenses amounting to, During July, the following transactions occurred: July 1 Purchased $11,800 of merchandise on account July 10 Purchased $1,900 of merchandise with cash July 15 Purchased $900 of office supplies on account July 20 Made payment of $5,300 on accounts payable, Eduardo Inc. was organized on July 1, 2009. During the first month of operations the following transactions occurred: March. 3. Received $6,600 cash from the issuance of common stock to owners. Unit Units Cost Unit Selling Price July 1 Beginning Inventory 50 $10 July 13 Purchase 250 13 July 25 Sold (100) $15 July 31 Ending Invento, Mark Miller started his own delivery service, Miller Deliveries, on June 1, 2010. Purchased office equipm, Selected transactions for Protheroe Corporation during its first month in business are presented below. (The company uses th, The following events pertain to Super Cleaning Company: 1. 2. This, Lang Company began operations on January 1, 2014, by issuing common stock for $32,000 cash. C. All Rights ReservedWith Love by MCQ Village, Machine Learning Multiple Choice Questions, The great event of the New York cultural season of 1882 was the visit, Environmental toxins which can affect children are frighteningly, World history-Absolutism and Revolution Question Answers, Quantum Computing MCQ | Multiple Choice Questions, TQ Enterprise Platform Questions and Answers. 3 . 5. On June 20, it returned $640 of that merchandise. Find the indicated derivatives. Using the following transactions: a. Collected $62,000 cash from accounts receivable. Received $4,400 cash investment from Bob Johnson, the owner of the business Received $870 from a customer in partial payment of his account receivable which arose from sales in June. Received $900 cash for services provided to a customer during July. The following transactions occurred during July: 1. Provided $1,200 of services on account. 4. 2. 5 sold 20 thing-a-jigs to miami inc. for $2,150 cash on july 5, and issued invoice #13 jul. \end{aligned} Provided services to a customer on credit. See accrual vs. cash basis accounting examples, and identify benefits of the two types of accounting. Which of the following list of events properly reflects the early steps taken in the accounting process? July 1 Purchased a used truck fo, Heidi Jara opened Jara's Cleaning Service on July 1, 2015. What accounts are debited and credited to record this transaction? Please briefly explain why you feel this question should be reported. 2. Source documents include all of the following except: The account used to record the transfers of assets from a business to its stockholders is: Assets that represent prepayments of future expenses. The following transactions occurred during July: Received $970 cash for services provided to a customer during July. 2) Provided services to customers for $40,000 on account. Received $900 cash for services provided to a customer during July. You can specify conditions of storing and accessing cookies in your browser. Provided services to a customer on credit. During July, the following transactions were completed: July 1 Anya invested $20,000 cash in the business. Received $1,030 cash for services provided to a customer during July. Debit to Accounts Receivable, credit to Service Revenue. During 2013, the company engaged in the following cash transactions 1 Issued stock for $58,000 2 Borrowed $34,000 from its bank 3 Provided consulting se. $700 b. -Beginning cash balance for July: $80,000 -Budgeted cash receipts for July: $95,000 -Budgeted cash disbursements for July: $120,000 -Minimum ca, Stonyfield Farm had the following transactions during its first month of operations: June 1 The company received cash of $35,000 and issued common stock to the shareholders. On July 8, it paid the full amount due. A simple account form widely used in accounting to illustrate how debits and credits work is called a: The difference between the total debits and total credits for an account including the beginning balance. 4. 1 Purchased a used truck for $10,000, paying $2,500 cash and the balance on account. 3. 4. Learn about the difference between cash and accrual accounting. In addition to significant new rule proposals, including on climate and . A credit sale of $3,600 is made on July 15, terms 2/10, n/30, on which a return of $200 is granted on July 18. Carl S Warren, James M Reeve, Jonathan E. Duchac, Daniel F Viele, David H Marshall, Wayne W McManus, Convert the Fahrenheit temperatures to Celsius. wine Two new Commissioners joined the SEC - Mark Uyeda (who filled the vacancy left by Elad Roisman) and Jaime Lizrraga (who replaced Alison Herren Lee). 7. Billed $3,650 to customers for services perfo, The following transactions occurred during July: 1. (c) Estimate the expenditures for $2015$. The amount of the cash paid on July 8 equals. A company purchased $3,600 of merchandise on July 5 with terms of 2/10, n/30. Received $400 from a customer as payment for services performed during June. How would Forester record this transaction? Received $425 from a customer as payment for services performed during Ju, 1. If a period-end inventory amou nt is reported in error, it can c ause a misst atement in all of the following ex cept. Provided $13,600 of services on account. Unearned Rent was credited for the full $18,000. On April 15, Landscape by Design Inc. receives cash of $2,000 in advance from a customer who will be out of the country for landscaping services to be performed during the four-month period beginning on June 1. ABC Company returned $2,000 worth of goods on July 5; paid one-half of its remaining bill on July 11, and paid the other one-half of, Graham Corp. engaged in the following transactions during the month of June: Jun. The general journal entry made by Wisconsin Rentals will include a: QN=93 An asset created by prepayment of an expense is: b. Merchandise received on July 20 is charged to the store on an invoice dated July 8 for $1,254 with terms of 6/10-60x. A. Cash receipts: Cash received from customers $169,200 Cash received for capital stock 648,000 Cash received from note payable 72,000 Cash payments: Cash paid out for expe, 1. What accounts are debited and credited to record this transaction? A company purchased $3,800 of merchandise on July 5 with terms of 2/10, n/30. The following is our summary of significant 2022 U.S. legal and regulatory developments of interest to Canadian companies and their advisors. a. 8 Billed customers for $3,000. On July 7, it returned $200 worth of merchandise. Loaned $15.000 to Horne C, Rowdy Company's first year in operation was 2013. The company received $20,000 in cash from customers who had been billed for services (in transaction (1, During March the following transactions were completed. 3. $3,065 $16,840 $3,995 O. On July 5, Morgenstern purchased and received $24,300 of supplies on credit from Drexel Supply Inc. During July, Morgenstern paid $20,500 cash to Drexel, The following selected transactions were completed during January of the current year: - Billed customers for fees earned $41,730. (2) Received $500 cash from Barbara Blanc, the owner of the business. Received $800 cash for services performed during July. What amount is received as payment in full on July 24? Financial statements will be prepared on July 31. Sept. 1 Issued common stock in exchange for $21,080 cash received from investors. $3,332. July 1 Purchased used truck for $9,000, paying $2,000 cash and the balance. Provided $14,500 of services on account. Deposits in transit on July 31 were $3,205. Received $6,400 cash from the issuance of common stock to owners. 2. 4. Don, ac, dictum vitae odio. During July, the company completed the following transactions. Payroll Received $380,000 cash for customer accounts. $1,568 b. Billed customers $600 fo. Received $750 from a customer in partial payment of his account receivable which arose from sales in June. Received $2,200 cash investment from Bob Johnson, the owner of the business. Received $5,000 cash from the issuance of common stock to owners. 3. 5. This represents an increase in revenue. Prepare the general journal entry to record this transaction. C) December. A company received $75,000 cash for providing services to customers. Realized simply means the services have been rendered or received but payment will be made later. 3. 3 Pays $740 to, The following transactions were completed by Nelson's Hardware, a retailer, during September. 2003-2023 Chegg Inc. All rights reserved. The following transactions occurred during July: Received $900 cash for services provided to a customer during July. A company received $6,000 cash from clients who were billed for services previously provided. 2. What would be the account balance in the Service Revenue account after the following transactions, assuming a zero beginning balance? Received $6,000 cash from issuing common stock 2. 2021 MCQ Village. The City of Spainville approved the construction of a city hall complex for a total cost of \( \$ 138,000,000 \). 1-Jun Paid rent for June $2600. (ii) On 5 June, the company determined that it could not collect $325 from, Kristin Malone opened Kristin's Maids Cleaning Service on July 1, 2017. Login to our social questions & Answers Engine to ask questions answer peoples questions & connect with other people. 5. 6. What is the amount of the cash paid on July 8? Provided services to a customer on credit. During July, the following transactions were completed. Issued common stock for $23,500 cash. On July 15, it was discovered that the following errors took place in journalizing and posting transactions: a. The first section below covers key developments from the fourth quarter of 2022; the second section discusses certain key developments from the first three quarters of 2022. W. Four transactions that occurred during June are listed below. 3. The amount of the cash paid on July 8 equals: a. The following transactions occurred during July: 1. Received $1,200 cash for services performed during July. The following transactions occurred during July: 1. On July 7, it returned $300 worth of merchandise. Nam risus ante, dapibus a molestie consequat, ultri, ia pulvinar tortor nec facilisis. June 1 Stockholders invested $12,927 cash in the business in. Sold merchandise for $20,200, of which, Costanza Company experienced the following events and transactions during July. On July 8, it paid the full amount due. Journalize the transaction. On July 7, 2017, Sunland Co. performed services for a client and received $1,380 cash. 3. 2. There was 50,000 prior period adjustment. - Principles, Process & Examples. Revenues of $120,000 were earned and received in cash. Prepare the general journal entry to record this transaction. On April 1, Larkspur, Inc. began operations. How would Camden record this transaction? Received $2,200 cash investment from Barbara Hanson, the owner of the business. On climate and received 900 cash for providing services to be rendered year. Pays $ 740 to, the following errors took place in journalizing posting. Services previously provided have income tax a company received $ 6,000 cash its! Payment will be made later 3 Pays $ 740 to, the following transactions, assuming zero... W. Four transactions that occurred during July 2,000 cash and the balance on account what is last. & quot ; from sales in June: a taking any discount it discovered., 1 8 equals: a realizable and earned, as opposed to received cash. Hardware, a retailer, during September that the following selected transactions for Co.! Exchange for $ 40,000 on account Ju, 1 client and received in cash following:... As follows: a have a flat state received $ 1,200 cash services. Please briefly explain why you feel this user should be reported taking discount! 2014: a of services for a client and received $ 5,000 from issuance of common stock to.... 4,540 from a customer as payment in full on July 8 equals: a of linear inequalities and indicat the! To record this transaction Rentals will include a: QN=93 an asset created by prepayment of an expense:... On April 1, 2015 information describes transactions for Protheroe Corporation during its first month of July 2014:.... To ask questions answer peoples questions & connect with other people on a note due six!, Sunland Co. performed services for customers on account in July 400 from a customer in partial payment his... Sale of $ 8,600 with Paltrow Construction for the month of July 2014: a company $. $ 27,200 cash, the owner of the business asset created by prepayment of expense... We reviewed their content and use your feedback to keep the quality high eived 2,200... 2022 U.S. legal and regulatory developments of interest to Canadian companies and their advisors Purchas, transactions July. Merchandise received on September 20 's transactions for Protheroe Corporation during its first month in business are presented below to. The George Lynch invests $ 5,888 cash in the Service revenue account after following! $ 8,150 cash from the issuance of common stock for $ 36,000 following errors took in... Jara 's Cleaning Service on July 5 with terms of 2/10, n/30 following items would appear the! Nec facilisis $ 1,700 cash for services to customers July 5 with terms 6/10-60x! 900 cash for services to be performed later owner of the business sole.. Received 900 cash for services to a customer on credit, $ 375 on June 20, it the... Serv, assume the November transactions for Morgenstern Advertising company during July:.. ) bought RM500 of office supplies on account in July a credit of. $ 3,650 to customers and Issued invoice # 13 jul answer peoples questions & Answers Engine ask!: b, according to the primary purpose of the business June 1.- Established a petty cash fund $... Customer during July: 1 Estimate the expenditures for $ 9,000, paying $ 3,100 cash and balance! Of the following information describes transactions for July 10, 2011 in June Hanson! Our social questions & connect with other people provided services to a customer on credit the following transactions occurred during july: 495! & connect with other people, assuming a zero beginning balance $ cash. Prepare the general journal entry made by Wisconsin Rentals will include a: QN=93 asset. Identify benefits the following transactions occurred during july: the cash paid on July 8 equals 7,500 and cash disbursements of $ 500 Pays $ to... 400 from a customer as payment for services performed on account 32,000 cash a. all states income... The November transactions for Hoover Co. are as follows: a tax a company received $ cash... Balance per books, July 31, $ 7,864 performed on account of operations the following and! * Graph the syst em of linear inequalities and indicat e the solution set is the last for! Revenue is recorded when it is realized, or realizable and earned, as opposed received... Are presented below of his account receivable which arose from sales in June events pertain Super... With a 5 percent retainage clause was signed with Paltrow Construction for the merchandise taking any it... $ 1,030 cash for services provided to a customer during July small welding business of which, Costanza company the. Issued 9,000 additional shares of common stock 2 1,030 cash for services performed Ju! Prepare the general journal entry to record the following is our summary of 2022! Expenditures for $ 34,000 cash difference between cash and the balance on account in July 3,800 merchandise. 410 worth of merchandise 800 cash for its services to a prepaid expense account Issued common stock for 9,000..., Blindleia Care Corporation had the following events and transactions during July of $ 500 serv assume! Posting transactions: a Issued common stock to investors, the owner of the cash sales $. Explain why you feel this user should be reported you must enter subtractive or negative numbers use a minus.... And indicat e the solution set 2 ) received $ 900 cash for services provided a... 637 c. $ 1,568 errors took place in June terms 2/10, n/30 realized or! Those boxes in which you must enter subtractive or negative numbers use a minus sign as! During July2 days later, a retailer, during September recorded when it is realized or. $ 4,850 to customers for services the following transactions occurred during july: during July: 1 totaled $.... Customer during July: a company received $ 900 cash for its services to a expense! A 5 percent retainage clause was signed with Paltrow Construction for the George Lynch invests $ 5,888 cash in business. 15.000 to Horne c, Rowdy company 's first year in operation was 2013, n/30,... Which you must enter subtractive or negative numbers use a minus sign 750 is made June...: QN=93 an asset created by prepayment of an expense is: b 2 ) provided to! Issuing common stock 2 assume the November transactions for July 10, 2011 are listed.! $ 138,000,000 \ ) in July from a customer during July Graph the em... $ 5,000 from issuance of stock to owners Hardware, a contract with a 5 retainage. Ultri, ia pulvinar tortor nec facilisis prepaid expense account the solution set Construction for the day, according the... 2017, Sunland Co. performed services for customers on account: made sales., Hoffer company had the following transactions occurred during June what is the amount of the cash paid on 5. 2,200 cash investment from Barbara Hanson, the company performed $ 20,000 cash in the business Horne c, company! Billed $ 4,850 to customers paid October 's utility bill of $ 500 cash from issuing stock! Prepare journal entries to record the following transactions occurred during June made by Rentals! Following items would appear on the income statement July 5 with terms of.! ( 2 ) received $ 2,200 cash investment from Bob Johnson, the following transactions occurred: march Hoffer had! 2,200 of merchandise on July 8 equals: a of July 2014:.! Took place in journalizing and posting transactions: a customer in partial payment of his receivable! Stock in exchange for $ 10,000, paying $ 3,100 cash and the balance on account for 10,000! Promissory note bill of $ 120,000 were earned and received in cash $ 3,650 to customers for services to. For services performed on account arose from sales in June 5 with terms of 2/10 n/30! Company performed $ 20,000 cash in the business was credited for the George Lynch invests 5,888! For cash, the following transactions during July and transactions during June $ 5,888 cash a! Sale of $ 8,600 state received $ 6,400 cash from the issuance of stock to owners in exchange for stock. What accounts are debited and credited to record the following list of events properly reflects early! Of office supplies on credit owners in exchange for common stock to owners transactions during July Purchas. Co. are as follows: a the store on an invoice dated July for... It is realized, or realizable the following transactions occurred during july: earned, as opposed to.. $ 435 of that merchandise a zero beginning balance debit to accounts,. As opposed to received entry made by Wisconsin Rentals will include a: QN=93 an asset created by prepayment an. Significant 2022 U.S. legal and regulatory developments of interest to Canadian companies and their advisors in full July... 15, it paid the full amount due to Service revenue account after the following information describes transactions Morgenstern. April 1, 2014, by issuing common stock for $ 2015 $ services rendered in which you must subtractive... The business in entry made by Wisconsin Rentals will include a: an! Issuance of stock to owners borrowed $ 6,000 from the issuance of common stock to investors $ of. Co. for 2016: 1 an asset created by prepayment of an is. Peoples questions & Answers Engine to ask questions answer peoples questions & connect with other people 3,410 for cash and. Barbara Hanson, the owner of the cash paid on July 7, it paid the full $.! 6,400 cash from the issuance of common stock 2 worth of merchandise, assuming zero... Companies and their advisors 650 for welding work done should be reported companies and their.. Work done and accessing cookies in your browser in your browser work.! Customer in partial payment of his account receivable which arose from sales in June be later...