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2 Part 2 of 3 3.33 points 8 02:18:23 following transactions. 1. January 1 Issue 10,000 shares of common stock in exchange for $22,000
2 Part 2 of 3 3.33 points 8 02:18:23 following transactions. 1. January 1 Issue 10,000 shares of common stock in exchange for $22,000 in cash. 2. January 5 Purchase land for $14,000. A note payable is signed for the full amount. 3. January 9 Purchase storage container equipment for $7,000 cash. 4. January 12 Hire three employees for $1,000 per month. 5. January 18 Receive cash of $11,000-in rental fees for the current month. 6. January 23 Purchase office supplies for $1,000 on account. 7. January 31 Pay employees $3,000 for the first month's salaries. 2. Post each transaction to T-accounts and calculate the ending balance for each account. For each posting, indicate the corresponding transaction number and the appropriate transaction amount. Since this is the first month of operations, all T-account have a beginning balance of zero. Beg bal eBook Hint End bal Cash Supplies Beg bal 7,000 (3) End bal Land Print Equipment Beg bal Beg bal Deferences End bal. End: bal Common Stock Accounts Payable Beg bal Beg bal End bal End bal Notes Payable Service Revenue Beg hat Beg ba End ba Salaries Expense Beg bu Ent ba End bal
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