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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
Hollywood Theaters owns movie theaters in the shopping centers of a major metropolitan area. Its owner, James Stevens, engaged in the following business transactions:

Hollywood Theaters uses the following accounts: Cash; Supplies; Building; Accounts Payable; Notes Payable; James Stevens, Capital; James Stevens, Withdrawals; Sales Revenue; Salary Expense; Rent Expense; Property Tax Expense.
Required
Journalize each transaction of Hollywood Theaters as shown for April 1. Show all notations as follows:
Apr. 1 Cash (↑ asset; debit). . . . . . . . . . . . . . . . . . . . . . . . . 500,000
James Stevens, Capital (↑ equity; credit) . . 500,000
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