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any help? Help Oct 1 Stockholders invested $35,000 in exchange for common stock of the corporation. 2 Hires an administrative assistant at an annual salary
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Help Oct 1 Stockholders invested $35,000 in exchange for common stock of the corporation. 2 Hires an administrative assistant at an annual salary of $36,000. 3 Buys equipment for $3,500 on account. 6 Performed services (.e., sold a house and lot for a customer) worth $10,000 that will be paid within 30 days. 10 Borrows $6,000 from a local bank with an annual interest rate of 3%. The principle on the loan is not due until next year 27 Pays $700 on account for the equipment purchased on October 3 30 Pays the administrative assistant $3,000 in salary for October The journal to record the transaction on October 2 would be: Multiple Choice no entry required. debit salaries expense for $36,000; credit salaries and wages payable for $36,000 debit salaries expense for $36.000; credit cash for $35,000. debit salaries and wages payable for $36,000; credit salaries expense for $36,000 Save & Exit Subr Step by Step Solution
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