Reference no: EM13566217
Prepare journal entries for the following transactions. If no entry is required, write "no entry" Omit Explanations.
Mar.
1. Jean Kelly opened a dance school, called Jean's Dance Studio, by depositing $15,000 into a business bank account for common stock.
2. Paid three months' rent in advance $1800
4. Hired a part-time assistant, to be paid $250 per week, starting next week.
6. Purchased sound equipment for $2,000. Paid $400 in cash, the remainder to be paid in installments of $800 every two weeks.
8. Signed up five students, who will begin lessons on March 10, at $80 per week per student.
17. Received the first week's tuition from four students; the fifth student will remit payment in three days.
17. Paid the assistant his first week's wages.
20. Received payment from fifth student.
21. Paid the first installment on the sound equipment purchased on March 6.
23. Received an electric bill of $100, to be paid April 1.