Omit explanations for the transactions

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Reference no: EM131268294

Journalize the following transactions for Mercado Company for June 2016, the company’s first month of operations. You may omit explanations for the transactions.

01/06. Purchased equipment on cash for $6,000.

02/06. Billed customers $5,000 for services performed.

03/06. Made payment of $1,500 on account for equipment purchased earlier in month.

04/06. Collected $2,400 on customer accounts.

05/06. Received $5000 for service that will be performed during July 2016.

06/06. Buy new car for $25000, paid: 2/5 cash and 3/5 in 60 days.

07/06. Calculated interest rate of 15% on loan $125000 obtained on June 1st.

Reference no: EM131268294

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