Selected transactions for Lauren Rountree Company during its first month in business are presented belo Sept. 1 Invested $10,000 cash in the business in exchange for common stock. 5 Purchased equipment for $12,000 paying $4,000 in cash and the balance on account. 25 Paid $2,400 cash on balance owed for equipment. 30 Declared and paid a $500 cash dividend. pbell’s chart of accounts shows No. 101 Cash N 201 Accounts Payable, o. 311 Common Stock; No. 332 Divide o. 157 Equipment, N (a) Journalize the transactions of the general journal. (Omit explanations (b) Post the transactions using the standard t-account form Sept. 1 Invested $10,000 cash in the business in exchange for common stock Account Title Post Debit credit Ref Date Show transcribed image text Selected transactions for Lauren Rountree Company during its first month in business are presented belo Sept. 1 Invested $10,000 cash in the business in exchange for common stock. 5 Purchased equipment for $12,000 paying $4,000 in cash and the balance on account. 25 Paid $2,400 cash on balance owed for equipment. 30 Declared and paid a $500 cash dividend. pbell’s chart of accounts shows No. 101 Cash N 201 Accounts Payable, o. 311 Common Stock; No. 332 Divide o. 157 Equipment, N (a) Journalize the transactions of the general journal. (Omit explanations (b) Post the transactions using the standard t-account form Sept. 1 Invested $10,000 cash in the business in exchange for common stock Account Title Post Debit credit Ref Date
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