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During its first year of operations, a company entered into the following transactions: - Borrowed $5,180 from the bank by signing a promissory note. -
During its first year of operations, a company entered into the following transactions: - Borrowed $5,180 from the bank by signing a promissory note. - Issued stock to owners for $11,800. - Purchased $1,180 of supplies on account. - Paid $580 to suppliers as payment on account for the supplies purchased
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