ACCT216 Week 6 Homework-During August 2013, DB Inc
ACCT216Week 6 HomeworkDuring August 2013, DB Inc. completed the following transactions:a 8/1/13 – Purchased a new piece of equipment for $50,000 signing a six month, 8% notepayable.b 8/10/13 â Issued 15,000 shares of $2.00 par stock at $8.00 per share.c 8/15/13 – Received an invoice for their telephones for $450.00 that will be paid nextmonth.d 8/16/13 – Sold $320,000 in product sales and accrued 5% for warranty liability.e 8/30/13 â Received a summons that the company was being sued for terminating theoffice manager last month. The attorneys have advised the company that they will beliable to the employee for back pay of $3,800.f 8/31/13 – Purchased 200 shares of Treasury stock at $6.00 per shareg 8/31/13 â Accrued interest on the note signed 8/1/13.Required:1 Prepare the journal entries for the above transactions.