Below are the transactions for Cleaning Racer, Inc. for April, the first month of operations. April 1 Borrow $50,000 from the bank by signing a note. April 2 Issue common stock in exchange for cash of $20,000. April 7 Purchase equipment for $40,000 cash. April 10 Purchase cleaning supplies of $4,000 on account. April 12 Provide services of $5,000 for cash. April 16 Pay employees $1,200 for work performed. April 19 Pay for advertising in a local newspaper, costing $500. April 23 Provide services of $7,000 on account. April 29 Pay employees $1,500 for work performed. April 30 A utility bill of $1,200 for the current month is paid. April 30 Pay dividends of $700 to stockholders. Required: 1. Record each transaction. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
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Below are the transactions for Cleaning Racer, Inc. for April, the first month of operations. April...
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