#24 Feb 22: The owners of the Bookstore contributed $44,000 into the company in exchange for common stock.
#25 Feb 23:
Purchased $230 of supplies on account.
#26 Feb 25:
Received a utility bill for $3,100. The bill is due on March 8, 2020.
#27 Feb 28:
During the last week of February the company reported book and gift sales as follows:
Books: Cost: $2,920 Gifts: Cost: $619
Sales Price: $5,255 Sales Price: $1,115
The company collected 20% of total sales in cash, the remainder of the sales were made on credit.
#28 Feb 28: During the last week of February the company reported concession sales as follows:
Concessions: Cost: $ 903
Sales Price: $1,895
4
All concession sales were cash sales.
#29 Feb 28: Tutoring fees for the remainder of the month totaled $6,020. One half of this balance was paid in cash, the balance was
charged to customer's accounts.
#30 Feb 28: Paid $26,450 on accounts payable.
#31 Feb 28: The Bookstore declared and paid dividends totaling $1,500 to its shareholders.
STOP HERE!
Don't proceed with the adjusting entries (additional information below) until you have entered the transactions above
