Notified by Alex's Engineering Co. that Business Solutions’ bid of $8,000 on a proposed project has been accepted. Alex’s paid a $1,700 cash advance to Business Solutions.
The following additional facts are collected for use in making adjusting entries prior to preparing financial statements for the company's first three months:
Prepare journal entries to record each of the December transactions and events for Business Solutions.(In cases where no entry is required, please select the option "No journal entry required" for your answer to grade correctly. Leave no cells blank - be certain to enter "0" wherever required. Omit the "$" sign in your response.)
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