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.