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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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