Reference no: EM133105905

Question - Missy's Exotic Vacations, Inc., had the following transactions during its first month of operations:

June 1 The company received cash of $35,000 and a building valued at $60,000. The corporation issued common stock to the shareholders.

June 2 Borrowed $20,000 from the bank and signed a note payable.

June 8 Purchased equipment on account for $6,000.

June 9 Received cash of $2,000 for services.

June 10 Performed services for a client on account, $8,500.

June 12 Paid office salaries of $2,000 by cash.

June 15 Paid for the equipment purchased June 8 on account.

June 22 Purchased office supplies and paid cash of $700.

June 30 Paid auto expense of $400 by cash

June 30 Paid the monthly rent of $2,200 by cash

Required - Record the transactions of the business in the appropriate journal.