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Adjustment Process Alex Vera organized Succulent Express at the beginning of February 20Y4. During February, Succulent Express entered into the following transactions: a. Terry Mason

image text in transcribed Adjustment Process Alex Vera organized Succulent Express at the beginning of February 20Y4. During February, Succulent Express entered into the following transactions: a. Terry Mason invested $28,375 in Succulent Express in exchange for common stock. b. Paid 56,300 on February 1 for an insurance premium on a one-year policy. c. Purchased supplies on account, $3,000. d. Received fees of 540,245 during February. e. Paid expenses as follows: wages, $16,800; rent, $2,800; utilities, $1,400; and miscellaneous, $1,540. f. Paid dividends of 58,310 . The transactions above have already been recorded in the integrated financial statement framework below

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