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Unformatted text preview: Prepaid rent Cash 3. Sold goods to customers on account. Accounts receivable Sales revenue Cost of goods sold Inventory 4. Purchased inventory on account. Inventory Accounts payable 5. Purchased supplies for cash. Supplies Cash 6. Paid employees wages for September. Wages payable Cash 7. Issued common stock in exchange for cash. Cash Common stock 8. Collected cash from customers for goods sold in 3. Cash Accounts receivable 9. Borrowed cash from a bank and signed a note. Cash Note payable 10. At the end of October, recorded the amount of supplies that had been used during the month. Supplies expense Supplies 11. Received cash for advance payment from customer. Cash Unearned revenue 12. Accrued employee wages for October. Wage expense Wages payable...
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- Spring '10