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a. Brian Durham opened a law firm by investing $25,500 cash and office furniture with a fair value of $9,400. Organized as a professional corporation,
a. Brian Durham opened a law firm by investing $25,500 cash and office furniture with a fair value of $9,400. Organized as a professional corporation, the business issued common stock to Durham. b. Paid monthly rent of $1,500. Purchased office supplies on account, $700. d. Paid employees' salaries of $2,900. . Paid $250 of the accounts payable created in transaction c. f. Performed legal service on account, $11,000. . g. Declared and paid dividends of $2,000. C. e. Office Supplies Service Revenue Office Furniture Salary Expense Accounts Payable Rent Expense Cash Common Stock Accounts Receivable Dividends
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