Journalize the transactions including explanations

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Reference no: EM131823780

Question: Ayala Architects incorporated as licensed architects on April 1, 2017. During the first month of the operation of the business, these events and transactions occurred: Apr. 1 Stockholders invested $18,000 cash in exchange for common stock of the corporation.

1 Hired a secretary-receptionist at a salary of $375 per week, payable monthly.

2 Paid office rent for the month $900.

3 Purchased architectural supplies on account from Burmingham Company $1,300.

10 Completed blueprints on a carport and billed client $1,900 for services.

11 Received $700 cash advance from M. Jason to design a new home.

20 Received $2,800 cash for services completed and delivered to S. Melvin.

30 Paid secretary-receptionist for the month $1,500. 30 Paid $300 to Burmingham Company for accounts payable due.

Instructions: (a) Journalize the transactions, including explanations.

(b) Post to the ledger T-accounts.

Reference no: EM131823780

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