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Daphne Design, Inc. had the following monthly transactions for July 1 through September 30. Remember, do not record any adjusting entries. Daphne Design, Inc. issued

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Daphne Design, Inc. had the following monthly transactions for July 1 through September 30. Remember, do not record any adjusting entries. Daphne Design, Inc. issued 10,000 shares to Daphne in exchange for $15,000 cash and equipment valued at $18,000. The common stock had a par value of July 1 $2.50 per share. Purchased a new insurance policy for the business property. Paid $1,500 for a 12 month policy that begins coverage on July 1, 2017. July 1 July 5 July 6 July 10 July 11 Paid office rent of $1,200. Sold merchandise for $2,000 cash. Purchased $3,000 of inventory on account, from Home Sold merchandise on account, for S3420.The merchandise had a cost of $2,000. The merchandise had a cost of $800. Dcor Suppliers. July 15 Paid monthly wages: $1,900 to employee Maggie Taylor, and $2.200 to Daphne are paid on the 15th of each month. This payment represents work from both June and July. In this client project, your supervisor prepared adjusting entries up through June 30. So you must ask yourself whether any of these wages have already been June 30 adjusted trial balance for help answering this question. Ignore payroll taxes.) recorded as an expense and liability. See July 17Paid phone/internet bill, $150 July 20 Paid utilities, $350 Client hired Daphne Design to provide interior design consulting services. The client paid $1,350, but Daphne Design won't have the consulting report ready until December or January July 30 August 1 Daphne Design, Inc. borrowed $10,000 from the bank, signing a 6-month note payable. The note has a 8% rate of interest. The principal and interest will be paid at the end of 6-months. Paid office rent of $1,200. Sold merchandise for $3,500. The merchandise had an original cost of $1,200. August 5 August 10

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