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During the year, the Decker Company experienced the following accounting transactions: 1. Issued common stock in the amount of $180,000 2. Paid a $54,000

 

During the year, the Decker Company experienced the following accounting transactions: 1. Issued common stock in the amount of $180,000 2. Paid a $54,000 cash dividend 3. Borrowed $45,000 from a bank 4. Made a principal payment of $4,500 on an outstanding bank loan 5. Made an interest payment of $2,160 on an outstanding bank loan Prepare journal entries and post your transaction analysis to the appropriate T-accounts. HINT: When posting the journal entries to the T-accounts, enter them in order. General Journal Ref. 1. Description Debit Credit 0 0 0 0 2. 0 0 0 0 3. 0 0 0 0 4. 0 0 0 0 5. 0 0

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