Business, 18.11.2019 21:31 arayah1888

Kaylee james, a connoisseur of fine chocolate, opened kaylee's sweets in collegetown on february 1. the shop specializes in a selection of gourmet chocolate candies and a line of gourmet ice cream. you have been hired as manager. your duties include maintaining the store's financial records. the following transactions occurred in february, the first month of operations. received four shareholders' contributions totaling $29,100 cash to form the corporation; issued 300 shares of $0.10 par value common stock. paid three months' rent for the store at $1,770 per month (recorded as prepaid expenses). purchased and received candy for $6,100 on account, due in 60 days. purchased supplies for $1,430 cash. negotiated and signed a two-year $11,000 loan at the bank, receiving cash at the time. used the money from (e) to purchase a computer for $2,600 (for recordkeeping and inventory tracking); used the balance for furniture and fixtures for the store.

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Kaylee james, a connoisseur of fine chocolate, opened kaylee's sweets in collegetown on february 1....

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