Reference no: EM132634666
Question - Prepare the journal entries
During 2022, its first year of operations as a delivery service, Blue Spruce Corp. entered into the following transactions.
1. Issued shares of common stock to investors in exchange for $121,000 in cash.
2. Borrowed $38,000 by issuing bonds.
3. Purchased delivery trucks for $64,000 cash.
4. Received $16,000 from customers for services performed.
5. Purchased supplies for $3,200 on account.
6. Paid rent of $5,300.
7. Performed services on account for $11,700.
8. Paid salaries of $28,900.
9. Paid a dividend of $10,800 to shareholders.