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Emporia State University Operations And Supply Chain Management Assignment Help - ACCT304

Question - E 2%u20134: Journal entries
The following transactions occurred during the month of June 2013 for the Stridewell Corporation. The
company owns and operates a retail shoe store.
ï‚· 1. Issued 100,000 shares of common stock in exchange for $500,000 cash.
ï‚· 2. Purchased furniture and fixtures at a cost of $100,000. $40,000 was paid in cash and a note
payable was signed for the balance owed.
ï‚· 3. Purchased inventory on account at a cost of $200,000. The company uses the perpetual
inventory system.
ï‚· 4. Credit sales for the month totaled $280,000. The cost of the goods sold was $140,000.
ï‚· 5. Paid $6,000 in rent on the store building for the month of June.
ï‚· 6. Paid $3,000 to an insurance company for f ...Read More

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