Reference no: EM132686925
Question - Selected transactions for Therow Corporation during its first month in business are presented below.
Sept. 1 Issued common stock in exchange for $20,000 cash received from investors.
Sept. 5 Purchased equipment for $9,000, paying $3,000 in cash and the balance on account.
Sept. 8 Performed services on account for $18,000.
Sept. 14 Paid salaries of $1,200.
Sept. 25 Paid $4,000 cash on balance owed for equipment.
Sept. 30 Paid $500 cash dividend.
Required -
a. Journalize the transactions.
b. Post the transactions to T-accounts.
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