requirement 1. record each transaction in the journal. key each transaction by date. explanations are not…

requirement 1. record each transaction in the journal. key each transaction by date. explanations are not required. (record debits first, then credits. exclude explanations from journal entries.) august 2: cloutier services received $69,000 cash and issued common stock to the stockholders. transaction data august 2 cloutier services received $69,000 cash and issued common stock to the stockholders. august 3 purchased supplies, $500, and equipment, $11,800, on account. august 4 performed services for a customer and received cash, $5,600. august 7 paid cash to acquire land, $33,000. august 11 performed services to a customer and billed the customer, $3,300. cloutier expects to collect within one month. august 16 paid for the equipment purchased august 3 on account. august 17 paid for newspaper advertising, $560. august 18 received partial payment from customer on account, $1,200. august 22 received and paid the water and electricity bills, $390. august 29 received $3,300 cash for servicing the heating unit of a customer. august 31 paid employee salaries, $2,500. august 31 declared and paid dividends of $2,000.

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