Reference no: EM132647412

Problem 1: Journalize the following selected transactions for January. Explanations may be omitted.

Jan. 1 Received cash from the sale of common stock, $14,000.

2       Received cash for providing accounting services, $9,500.

3       Billed customers on account for providing services, $4,200.

4       Paid advertising expense, $700.

5       Received cash from customers on account, $2,500.

6       Paid dividends, $1,010.

7       Received telephone bill, $900.

8       Paid telephone bill, $900.