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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Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas
10th edition
1260481956, 1260310175, 978-1260481952
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