JOURNAL ENTRIES

• JOE’S BARBER SHOP RECEIVED $40,00 CASH FROM OWNERS AND ISSUED COMMON STOCK TO THEM

• CASH $40,000• COMMON STOCK $40,000

• THE BUSINESS PAID $10,000 CASH FOR LAND

• LAND $10,000• CASH $10,000

• THE COMPANY PURCHASED SUPPLIES FOR CASH OF $500

• SUPPLIES $500• CASH $500

• SUPPLIES WERE PURCHASED FOR CASH OF $900

• SUPPLIES $900• CASH $900

• SUPPLIES WERE PURCHASED FOR $200 CASH

• SUPPPLIES $200• CASH $200

• SUPPLIES WERE PURCHASED ON CREDIT FOR $700

• SUPPLIES $700• ACCOUNTS PAYABLE $700

• SUPPLIES WERE PURCHASED ON CREDIT FOR $100

• SUPPLIES $100• ACCOUNTS PAYABLE $100

• SUPPLIES WERE PURCHASED FOR CASH OF $2000

• SUPPLIES $2000• CASH $2000

• INVENTORY WAS PURCHASED FOR $3000 CASH

• INVENTORY $3000• CASH $3000

• INVENTORY WAS PURCHASED FOR $5000 CASH

• INVENTORY $5000• CASH $5000

• INVENTORY WAS PURCHASED ON CREDIT FOR $1000

• INVENTORY $1000• ACCOUNTS PAYABLE $1000

• INVENTORY WAS PURCHASED FOR $4000 ON CREDIT

• INVENTORY $4000• ACCOUNTS PAYABLE $4000

• MARKETABLE SECURITIES WERE PURCHASED FOR CASH OF $8000

• MARKETABLE SECURITIES $8000• CASH $8000

• THE OWNERS INVESTED AN ADDITIONAL $20,000 INTO THE BUSINESS

• CASH $20,000• COMMON STOCK $20,000

• THE OWNERS INVESTED $60,000 INTO THE COMPANY

• CASH $60,000• COMMON STOCK $60,000

• SOLD HAIRCUTS FOR THE DAY OF $2000

• CASH $2000• SALES $2000

• SOLD HAIRCUTS FOR THE DAY FOR $1,000

• CASH $1000• SALES $1000