Question

Below are the transactions for Ute Sewing Shop for March, the first month of operations.

March		1		Issue common stock in exchange for cash of $2,800.
March		3		Purchase sewing equipment by signing a note with the local bank, $2,500.
March		5		Pay rent of $580 for March.
March		7		Martha, a customer, places an order for alterations to several dresses. Ute estimates that the alterations will cost Martha $780. Martha is not required to pay for the alterations until the work is complete.
March		12		Purchase sewing supplies for $128 on account. This material will be used to provide services to customers.
March		15		Ute delivers altered dresses to Martha and receives $780.
March		19		Ute agrees to alter 10 business suits for Bob, who has lost a significant amount of weight recently. Ute receives $680 from Bob and promises the suits to be completed by March 25.
March		25		Ute delivers 10 altered business suits to Bob.
March		30		Pay utilities of $93 for the current period.
March		31		Pay dividends of $140 to stockholders.

Please put in journal entry

Issue common stock in exchange for cash of $2,800.

	Date Account Title Debit Credit March 01 Cash 2,800 Common Stock 2,800

Purchase sewing equipment by signing a note with the local bank, $2,500.

	Date Account Title Debit Credit March 03 Equipment 2,500 2,500

Pay rent of $580 for March.

	Date Account Title Debit Credit March 05 580 580

Martha, a customer, places an order for alterations to several dresses. Ute estimates that the alterations will cost Martha $780. Martha is not required to pay for the alterations until the work is complete.

	Date Account Title Debit Credit March 07

Purchase sewing supplies for $128 on account. This material will be used to provide services to customers.

	Date Account Title Debit Credit March 12

Ute delivers altered dresses to Martha and receives $780.

	Date Account Title Debit Credit March 15

Ute agrees to alter 10 business suits for Bob, who has lost a significant amount of weight recently. Ute receives $680 from Bob and promises the suits to be completed by March 25.

	Date Account Title Debit Credit March 19

Ute delivers 10 altered business suits to Bob.

	Date Account Title Debit Credit March 25

Pay utilities of $93 for the current period.

	Date Account Title Debit Credit March 30

Answer 1

Date	Account Title	Debit	Credit
March 01	Cash	2800
	Common Stock		2800
Date	Account Title	Debit	Credit
March 03	Equipment	2500
	Notes Payable		2500
Date	Account Title	Debit	Credit
March 05	Rent Expense	580
	Cash		580
Date	Account Title	Debit	Credit
March 07	No Journal entry required
Date	Account Title	Debit	Credit
March 12	Supplies	128
	Accounts Payable		128
Date	Account Title	Debit	Credit
March 15	Cash	780
	Service Revenue		780
Date	Account Title	Debit	Credit
March 19	Cash	680
	Deferred Revenue		680
Date	Account Title	Debit	Credit
March 25	Deferred Revenue	680
	Service Revenue		680
Date	Account Title	Debit	Credit
March 30	Utilities Expense	93
	Cash		93
Date	Account Title	Debit	Credit
March 31	Dividends	140
	Cash		140