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Asset 5 : Equipment was acquired by issuing 1 0 0 shares of $ 2 8 par value common stock. The stock had a market
Asset : Equipment was acquired by issuing shares of $ par value common stock. The stock had a market price of $ per share. Interest Expense
Construction of Building: A building was constructed on land purchased last year at a cost of $ Construction began on
February and was completed on November The payments to the contractor were as follows.
To finance construction of the building, a $ construction loan was taken out on February The loan was repaid on
November The firm had $ of other outstanding debt during the year at a borrowing rate of
Record the acquisition of each of these assets. Do not round intermediate calculations and final answers to decimal places eg
Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is
required, select No Entry" for the account titles and enter for the amounts. List all debit entries before credit entries.
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