Breif Exercise 2-2

Transactions for the Hank Norris Company, which provides welding services, for the month of June are presented below. Identify the accounts to be debited and credited for each transaction.

June 1         Hank Norris invests $5,000 cash in exchange for ordinary shares in a small welding business.

        2         Purchases equipment on account for $900.

        3         $800 cash is paid to landlord for June rent.

       12        Bills J. Kronsnoble $300 for welding work done on account.

Breif Exercise 2-3

Using the data in BE2-2, journalize the transactions. (You may omit explanations.)

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