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Current Attempt In Progress For each of the following transactions, prepare journal entries: (Credit account titles are automatically indented when the amount is entered. Do
Current Attempt In Progress For each of the following transactions, prepare journal entries: (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) a The company issued common shares for $137,000. b. The company borrowed $79,000 from a bank (Use Bank Loan Payable) c Inventory costing $51,200 was purchased on account. d. Rented a retail space and paid a damage deposit of $9,000. e. Received a bill for advertising costs of $4,000 related to the grand opening f Paid employees wages of $18,300. $64.500, half for cash and half on account. (Hint: Two journal entries are required.) Inventory costing $36,300 was sold h. A payment of $40,300 was made on T accounts payable. Accounts receivable totalling $22.100 were collected. New equipment costing $110,000 was purchased for cash. k The company paid $17.200 on its bank loan, which included $9,400 of Interest L The company paid $8,100 for the monthly rent on its retail location. m The company's board declared and paid dividends of $11.700. n Paid the advertising bill related to the grand opening (see transaction (e))
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