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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
Problem 3-9A Journal Entries
Castle Consulting Agency began business in February. The transactions entered into by Castle during its first month of operations are as follows:
a.     Acquired articles of incorporation from the state and issued 10,000 shares of capital stock in exchange for $150,000 in cash.
b.     Paid monthly rent of $400.
c.      Signed a five-year promissory note for $100,000 at the bank.
d.     Purchased software to be used on future jobs. The software costs $950 and is expected to be used on five to eight jobs over the next two years.
e.      Billed customers $12,500 for work performed during the month.
f.      Paid office personnel $3,000 for the month of February.
g.      Received a utility bill of $100. The total amount is due in 30 days.
Required
Prepare in journal form the entry to record each transaction.
Hel-----------lo -----------Sir-----------/Ma-----------dam-----------Tha-----------nk -----------You----------- fo-----------r u-----------sin-----------g o-----------ur -----------web-----------sit-----------e a-----------nd -----------and----------- ac-----------qui-----------sit-----------ion----------- of----------- my----------- po-----------ste-----------d s-----------olu-----------tio-----------n.P-----------lea-----------se -----------pin-----------g m-----------e o-----------n c-----------hat----------- I -----------am -----------onl-----------ine----------- or----------- in-----------box----------- me----------- a -----------mes-----------sag-----------e I----------- wi-----------ll