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1. Received $50,000 cash in exchange for common stock. Assets = Liabilities + Stockholders' Equity ACCT NAMES: Cash Common Stock Amount +/- +$50,000 +$50,000 2.

1. Received $50,000 cash in exchange for common stock. Assets = Liabilities + Stockholders' Equity ACCT NAMES: Cash Common Stock Amount +/- +$50,000 +$50,000 2. Borrowed $20,000 from First National Ba...

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