Reference no: EM13324526

Selected transactions for Protheroe Corporation during its first month in business are presented below.
1. Journalize these transactions.
2. Post the following transactions to T-Accounts.

Sept. 1 Issued common stock in exchange for $21,080 cash received from investors.
5 Purchased equipment for $9,010, paying $3,710 in cash and the balance on account.
8 Performed services on account for $18,000.
14 Paid salaries of $1,200.
25 Paid $2,920 cash on balance owed for equipment.
30 Paid $970 cash dividend.