Larkspur, Inc. was opened on August 1 by Joe Larkspur. The following selected events and transactions occurred during August. Aug. 1 Invested $57,000 cash in the business in exchange for common stock. 3 Purchased O'Brien's Tree Service for $36,600 cash. The price consists of land $19,000, building $15,000, and equipment $2,600. (Make one compound entry.) 5 Advertised the opening of the business, paying advertising expenses of $1,400. 6 Paid cash $1,240 for a one-year insurance policy. 10 Purchased equipment for $2,100 from Crane Company, payable in 30 days. 18 Received fees for services of $1,400 in cash. 25 Declared and paid a $750 cash dividend. 30 Paid wages of $1,900. 30 Paid Crane Company in full. 31 Received $650 of fees in cash.
Journallze the August transactions.
