Feel-Good Custom Clothiers started business April 1, 2013. Required: Prepare general journal entries for the transactions listed below.
Write your journal entries by the number listed beside each transaction. Issued 4,000 shares of capital stock for $15,000 cash.
Leased building space, paying 12 months rent of $4,000 in advance.
Rented equipment at a cost of $100 per month, paying $100 upon signing the rental agreement.
Purchased supplies, on account $600.
Recorded sales on account, $800. Paid wages, $500.
Paid two-year insurance premium in advance, $900. Record wages, $500.
Paid for half of supplies purchased in.