Prepare journal entries for each of the following selected transactions. a. On January 15, Kolby Anderson opens
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a. On January 15, Kolby Anderson opens a remodeling company called Fancy Kitchens by investing $75,000 cash along with equipment having a $30,000 value in exchange for common stock.
b. On January 21, Fancy Kitchens purchases office supplies on credit for $650.
c. On January 25, Fancy Kitchens receives $8,700 cash for performing remodeling services.
d. On January 30, Fancy Kitchens receives $4,000 cash in advance of providing remodeling services to a customer.
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a Jan 15 Cash 75000 Equipment 30000 Common Stock 105000 Owner invests cash a...View the full answer
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