Nathanson Corporation was organized on May 1. The following events occurred during the first month.
(a) Received $66,000 cash from the five investors who organized Nathanson Corporation. Each investor received 102 shares of $10 par value common stock.
(b) Ordered store fixtures costing $16,000.
(c) Borrowed $12,000 cash and signed a note due in two years.
(d) Purchased $20,000 of equipment, paying $1,900 in cash and signing a six-month note for the balance.
(e)Lent $1,600 to an employee who signed a note to repay the loan in three months.
(f) Received and paid for the store fixtures ordered in (b).
Prepare journal entries for each transaction. (If no entry is required for a transaction/event, select “No journal entry required” in the first account field.)
View transaction list Journal entry worksheet 4 6 Record the receipt of $66,000 cash from five investors who each received 102 shares of $10 par value common stock Note: Enter debits before credits. Transaction General Journal Debit Credit a. Record entry Clear entry View general journal