Received $41,000 cash and issued common stock to Stewart - answer✔Debit cash
Credit common stock
Purchased office supplies, $1,200 and furniture $2,300 on account - answer✔Debit office
supplies ($1,200)
Debit furniture ($1,200)
Credit accounts payable ($2,300)
Performed services for a law firm and received $2,100 cash - answer✔Debit cash
Credit service revenue
Paid $27,000 cash to acquire land to be used in operations - answer✔Land cash
Credit cash
Performed services for a hotel and received its promise to pay the $800 within one week -
answer✔Debit accounts receivable
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