1. JOURNAL ENTRIES JOE’S BARBER SHOP RECEIVED $40,00 CASH FROM OWNERS AND ISSUED COMMON STOCK TO THEM

2. CASH $40,000 COMMON STOCK $40,000

3. THE BUSINESS PAID $10,000 CASH FOR LAND

4. LAND $10,000 CASH $10,000

5. THE COMPANY PURCHASED SUPPLIES FOR CASH OF $500

6. SUPPLIES $500 CASH $500

7. SUPPLIES WERE PURCHASED FOR CASH OF $900

8. SUPPLIES $900 CASH $900

9. SUPPLIES WERE PURCHASED FOR $200 CASH

10. SUPPPLIES $200 CASH $200

11. SUPPLIES WERE PURCHASED ON CREDIT FOR $700

12. SUPPLIES $700 ACCOUNTS PAYABLE $700

13. SUPPLIES WERE PURCHASED ON CREDIT FOR $100

14. SUPPLIES $100 ACCOUNTS PAYABLE $100

15. SUPPLIES WERE PURCHASED FOR CASH OF $2000

16. SUPPLIES $2000 CASH $2000

17. INVENTORY WAS PURCHASED FOR $3000 CASH

18. INVENTORY $3000 CASH $3000

19. INVENTORY WAS PURCHASED FOR $5000 CASH

20. INVENTORY $5000 CASH $5000

21. INVENTORY WAS PURCHASED ON CREDIT FOR $1000

22. INVENTORY $1000 ACCOUNTS PAYABLE $1000

23. INVENTORY WAS PURCHASED FOR $4000 ON CREDIT

24. INVENTORY $4000 ACCOUNTS PAYABLE $4000

25. MARKETABLE SECURITIES WERE PURCHASED FOR CASH OF $8000

26. MARKETABLE SECURITIES $8000 CASH $8000

27. THE OWNERS INVESTED AN ADDITIONAL $20,000 INTO THE BUSINESS

28. CASH $20,000 COMMON STOCK $20,000

29. THE OWNERS INVESTED $60,000 INTO THE COMPANY

30. CASH $60,000 COMMON STOCK $60,000

31. SOLD HAIRCUTS FOR THE DAY OF $2000

32. CASH $2000 SALES $2000

33. SOLD HAIRCUTS FOR THE DAY FOR $1,000

34. CASH $1000 SALES $1000