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Question 1: Write journal entries and explanation for the following transactions that occurred during 2017 :
Point 1: January 3 stan Adams opened a landscaping business by investing $60000 cash and equipment having a $40000 fair Value.
Point 2: 4 purchased office supplies on credit For $340.
Point 3: 6 received $5200 for providing landscaping services to a customer.
Point 4: 15 paid $200 regarding the office supplies purchase of january 4.
Point 5: 16 purchased $700 of office supplies on account.
Point 6: 30 paid the balance owing regarding the office supplies purchase of january 4.
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