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Company: Netflix, Inc. Netflix, Inc. issued 20,000 shares of common stock at $25 per share on January 1, 2024. The company purchased equipment costing $250,000

Company: Netflix, Inc.

Netflix, Inc. issued 20,000 shares of common stock at $25 per share on January 1, 2024. The company purchased equipment costing $250,000 by paying $50,000 in cash and signing a $150,000 note payable. Record the journal entries for these transactions and prepare the balance sheet as of January 1, 2024, immediately after these transactions.

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