Answer:
Jan. 2 Stockholders invested $18,337 cash in the business in exchange for common stock.
Account Debit Credit
Cash $18,337
Common Stock $18,337
3 Purchased used car for $10,024 cash for use in the business.
Account Debit Credit
Vehicle $10,024
Cash $10,024
9 Purchased supplies on account for $611.
Account Debit Credit
Supplies Expense $611
Accounts Payable $611
11 Billed customers $2,200 for services performed.
Account Debit Credit
Accounts Receivable $2,200
Service Revenue $2,200
16 Paid $244 cash for advertising.
Account Debit Credit
Advertising Expense $244
Cash $244
20 Received $954 cash from customers billed on January 11.
Account Debit Credit
Cash $954
Accounts Receivable $954
23 Paid creditor $367 cash on balance owed.
Account Debit Credit
Accounts Payable $367
Cash $367
28 Declared and paid a $611 cash dividend.
Account Debit Credit
Dividends $611
Cash $611
