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Analyzing Business transaction a. Borrowed $3,940 from local bank on a note due in six months. b. Received $4,630 cash from investors and issued a

Analyzing Business transaction

a. Borrowed $3,940 from local bank on a note due in six months.

b. Received $4,630 cash from investors and issued a common stock to them.

c. Purchased $1,000 in equipment, paying $200 cash and promising the rest on a note due in one year.

d. Paid $300 cash for supplies.

e. Bought and received $700 of supplies on account.

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