Make the journal entry on ABCs books for each transaction

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Question - The ABC Corporation was formed on January 1, 2018 to provide landscaping services. Below are selected transactions that were completed during the month of January, 2018.

1. The three initial owners each invested $100,000 cash.

2. Purchased land for $70,000 and promised to pay supplier in 9 months.

3. Purchased a service vehicle for cash at a cost of $24,000.

4. Purchased $2,000 of supplies on credit.

Required - Make the journal entry on ABC's books for each transaction.

Reference no: EM132840958

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