Reference no: EM132780044

Question: You are presented with the following transactions for Oxfam Corporation for the month of January: Jan. 2 Issued $5,000 of common shares for cash. 5 Signed a contract to provide services to a customer within the next year for $5,500. 6 Obtained a bank loan for $30,000. 7 Paid $40,000 to purchase a hybrid car to be used solely in the business. 9 Received a $5,000 deposit from a customer for services to be provided in the future. 12 Billed customers $20,000 for services performed during the month. 19 Purchased $500 of supplies on account. 20 Provided $1,500 of services for the customer who paid in advance on January 9. 23 Collected $5,000 owing from customers from the January 12 transaction. 29 Paid rent for the month, $1,500.

Instructions: Journalize these transactions in proper form.