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ACCOUNTS DEBIT CREDIT TRANSACTIONS 0 a. Johnson invested $40,000 cash 0 in the business. 0 b. Johnson purchased inventory for 0 $24,000 on account. 0

ACCOUNTS DEBIT CREDIT TRANSACTIONS
0 a. Johnson invested $40,000 cash
0 in the business.
0 b. Johnson purchased inventory for
0 $24,000 on account.
0 c. Johnson borrowed $50,000 from Bank
0 of America on a 3-month 6% note.
0 d. Johnson purchased equipment for
0 $30,000, paying cash. (Life = 5 years.)
0 e. Johnson paid the rent in cash,
0 $3,400.
0 f. Johnson sold inventory on account for
0 $20,000. Record the revenue here.
0 g. The cost of goods sold on the sale was
0 $12,000.
0 h. Johnson withdrew cash from the
0 business, $1,000.
0 i. Johnson paid off the note, $50,750
0 including face value of $50,000
0 and interest of $750. (Put interest first.)
0 j. Johnson recorded one month of
0 depreciation on the equipment, $500.

The question is not fully posted it wont allow me to put all of the questions.

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