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Record the transactions above in the general journal

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Question - The following transactions relate to ABC Company for the month of January

1. The business received $40,000 cash, supplies $2000 and building $60,000 from owners and issued share capital to the shareholders.

5. Borrowed $10,000 form the bank and signed a note payable.

13. Purchased a truck costing $15,000 paying $3,000 cash and the remainder on credit.

15. Paid $1,000 for a one-year insurance policy.

16. Performed a service on account for $8,000, only $2,000 were recieved.

17. Received on account $4,000

30. Received a telphone bill $200

31. Distributed dividends of $3000.

Required: Record the transactions above in the General Journal.

Reference no: EM131700246

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