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Accounts payable $50,000 Land $444,000 Factory Building $500,000 Notes Payable, due 2029 $5,000 Cash $90,000 Retained Earnings $966,000 Contributed Capital $170,000 Supplies $9,000 Equipment $148,000
Accounts payable $50,000 Land $444,000 Factory Building $500,000 Notes Payable, due 2029 $5,000 Cash $90,000 Retained Earnings $966,000 Contributed Capital $170,000 Supplies $9,000 Equipment $148,000 a) Issued 6000 shares for $600,000 cash b) Borrowed $60,000 cash from a local bank, payable June 30, 2029 c) Bought a factory building for $166,000; paid $66,000 in cash and signed a three year note for the balance d) Paid cash for equipment that cost $90,000 e) Purchased supplies for $90,000 on account
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