On april 1, Windsor, Inc. began operations. The following transactions were completed during the month. 1. Issued common stock for $28,300 cash.
2. Obtained a bank loan for $8,300 by issuing a note payable.
3. Paid $13,000 cash to buy equipment.
4. Paid $1,400 cash for April office rent.
5. Paid $1,700 for supplies.
6. Purchased $710 of advertising in the Daily Herald, on account.
7. Performed services for $21,200: cash of $2,360 was received from customers, and the balance of $18,840 was billed to customers on account.
8. Paid $470 cash dividend to stockholders.
9. Paid the utility bill for the month, $2,360.
10. Paid Daily Herald the amount due in transaction (6).
11. Paid $50 of interest on the bank loan obtained in transaction (2).
12. Paid employees’ salaries, $7,550.
13. Received $14,160 cash from customers billed in transaction (7).
14. Paid income tax, $1,770.

Required:
Journalise the transactions.

S/n   General Journal     Debit    Credit

1.       Cash                     $28,300

             Common stock              $28,300

      (To record issuance of common stock)  

2.       Cash                      $8,300

             Note payable               $8,300

        (To record issuance of note payable)  

3.      Equipment             $13,000

              Cash                                $13,000

        (To record purchase of equipment)  

4.    Rent expense          $1,400  

              Cash                                 $1,400

          (To record rent expense)

5.     Supplies                    $1,700

              Cash                                 $1,700

        (To record purchase supplies )  

6.     Advertising expense  $710

             Accounts payable             $710

         (To record advertising expense)  

7.       Cash                          $2,360

        Accounts receivable $18,840

            Service revenue                 $21,200

        (To record service revenue)  

8.      Cash dividends        $470

                Cash                                  $470

        (To record cash paid for dividends )  

9.       Utilities expense       $2,360

                 Cash                                 $2,360

        (To record utilities expense)  

10.       Accounts payable     $710

                 Cash                                 $710

         (To record payment to creditors)  

11.          Interest expense       $50

                  Cash                                 $50

         (To record interest expense)

12.        Salaries and wages     $7,550

            expense

                     Cash                                $7,550

             (To record salaries and wages expense)  

13.         Cash                              $14,160

                     Accounts receivable      $14,160

           (To record amount received from customers)

14.        Tax Expenses                 $1,770

                    Account payable               $1,770

            (To record income tax expenses)

i do believe its modular luck

explanation:

being born in poverty would limit the people's chances, opportunities and benefits.

this happen because of several things, such as:

- poor people tend to gain less access to good education and nutrition. this mean that their chance to obtain high paying jobs would also be limited.

- poor people tend to socialize with other poor people while the rich tend to socialize with other rich people. this means that simply throguh their social circle, rich people would have more business opportunities compared to the poor people.

- rich people tend to have more capital in their disposal. this would benefit them in business since it is far easier for them to fund their business operation compared to poor people.