Record the transactions in general journal-silva company


Problem: Silva Company had the following transactions:

1. Purchased a new building, paying $20,000 cash and issuing a note for $50,000.

2. Purchased $15,000 of inventory on account.

3. Sold inventory costing $5,000 for $6,000 on account.

4. Paid for inventory purchased on account (item 2).

5. Issued capital stock for $25,000.

6. Collected $4,500 of accounts receivable.

7. Paid utility bills totaling $360.

8. Sold old building for $27,000, receiving $10,000 cash and a $17,000 note (no gain or loss on the sale).

9. Paid $2,000 cash dividends to stockholders.

Record the above transactions in general journal format. (Omit explanations.)

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Finance Basics: Record the transactions in general journal-silva company
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