Data for the Wong Computer were presented in E3-2.
1. Purchased computers on account for $8,000 from Dell.
2. Paid $1,600 for rent for the month of May.
3. Provided computer services for $3,800 on account.
4. Paid Ontario Hydro $500 cash for utilities used in May.
5. Issued common shares to Li Wong in exchange for an additional $20,000 investment in the business.
6. Paid Dell for computers purchased in transaction 1.
7. Purchased a one-year accident insurance policy for $500 cash. 8.Received $3,500 cash in payment of the account in transaction 3.
9. Paid Li Wong a $500 dividend.
10. Paid income taxes of $400 for the month.
Instructions
Journalize the transactions.
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