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Assume that the following transactions (in millions) occurred during the next fiscal year (ending on September 26 , 2020): a. Borrowed $18,287 from banks due
Assume that the following transactions (in millions) occurred during the next fiscal year (ending on September 26 , 2020): a. Borrowed $18,287 from banks due in two years. b. Purchased additional investments for $23,000 cash; one-fifth were long term and the rest were short term. c. Purchased property, plant, and equipment; paid $9,591 in cash and signed a short-term note for $1,430. d. Issued additional shares of common stock for $1,489 in cash; total par value was $1 and the rest was in excess of par value. e. Sold short-term investments costing $19,028 for $19,028 cash. f. Declared $11,146 in dividends to be paid at the beginning of the next fiscal year. Orange Incorporated, headquartered in Cupertino, California, designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories, and sells a variety of related services. The following is Orange's (simplified) balance sheet from a recent year (fiscal year ending on the last Saturday of September). Note: Enter debits before credits. Required: . Prepare a journal entry for each transaction. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers n millions
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