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Prepare the journal entry for each transaction in good form

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Question - Prepare the journal entry for each transaction in good form.

1. Purchased $2,000 of inventory on account.

2. Bought equipment worth $50,000 by paying $5,000 and signing a two-year note for the balance.

3. Paid for the inventory purchased in 1 above.

4. Sold 600 shares of $2 par value stock to investors for $4,000.

5. Workers earned wages of $300 which will be paid in January of next year.

Reference no: EM133123220

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