Could you please help me with this matter.
Carmen L. Echevarria
During March 2011, JZ
Inc. completed the following transactions:
3/1/11 - Purchased a new piece of equipment for
$75,000 signing a six month, 7% note payable.
3/10/11 - Issued 10,000 shares of $2.00 par
stock at $9.00 per share.
3/15/11 - Received an invoice for their
telephones for $375.00 that will be paid next month.
3/16/11 - Sold $450,000 in product sales and
accrued 6% for warranty liability.
3/30/11 - Received a summons that the company
was being sued for terminating the office manager last month. The attorneys have advised the company that
they will be liable to the employee for back pay of $4,700.
3/31/11 - Purchased 400 shares of Treasury stock
at $7.00 per share
3/31/11 - Accrued interest on the note signed
Prepare the journal entries for the above