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1 Appendix A and Chapter 3 Note: You can make journal entries use the homework format or the formats I illustrated on discussions under Week
1 Appendix A and Chapter 3 Note: You can make journal entries use the homework format or the formats I illustrated on discussions under Week 3. The following transactions apply to the Grant Corporation for 2017, its first year in business. 1) Issued stock to investors, $240,000. 2) The company borrowed $210,000 cash from the bank. 3) Services were provided to customers and $24,000 cash was received. 4) The company paid $1,600 for supplies that were used during the period. 5) A dividend of $50,000 was made to the owners. 6) Paid office salaries $65,000. Requirement: Make journal entries for each of above transactions
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