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Question - For the July journal transactions, write the journal entries in general journal format (double entry accounting):
29-Jul Received payment in full from Donzi for the July 27th transaction.
29-Jul Sold 3,000 shares of Grand Valley Marine, Inc stock for $18 per share.
29-Jul Check #5292 was issued for payroll: $25,800 for salaries and $11,950 for wages.
30-Jul Paid the first month's principal payment of $18,000 on the note payable from July 1 Boat US bank. In addition, paid one month's interest (interest calculated BEFORE principal payment each month), Check #5293
30-Jul Issued bonds payable at 97 discount. Face value of the bonds is $400,000. Contract rate on bond is 8% and bond matures in 5 years.
Financial Statement Analysis and Preparation
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