Prepare the necessary journal entries for each of the following transactions for Klokel,Inc.
a.Klokel,Inc.sold 1,200 shares of common stock at $30 per share in cash.
b.The company purchased equipment for $14,000,paying $4,000 in cash and the remainder in a note.
c.The company paid the current month's rent,which amounted to $900,and the current month's utilities,which amounted to $400.
d.Merchandise inventory costing $1,900 was sold on account for $4,100.
e.Depreciation on the equipment amounted to $600.

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The Answer of Prepare the necessary journal entries for each of the following transactions for Klokel,Inc.
a.Klokel,Inc.sold 1,200 shares of common stock at $30 per share in cash.
b.The company purchased equipment for $14,000,paying $4,000 in cash and the remainder in a note.
c.The company paid the current month's rent,which amounted to $900,and the current month's utilities,which amounted to $400.
d.Merchandise inventory costing $1,900 was sold on account for $4,100.
e.Depreciation on the equipment amounted to $600.

Prepare the Necessary Journal Entries for Each of the Following