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Exercise 2. John Company had the following transactions during January 1. Jan 1 The owner Mr. John invested $100,000 in the company 2. Jan 5
Exercise 2. John Company had the following transactions during January 1. Jan 1 The owner Mr. John invested $100,000 in the company 2. Jan 5 Borrowed $50,000 from the bank by signing a notes payable 3. Jan 10 Purchase equipment by paying cash for $25,000 4. Jan 15 Paid January rent of $2,400 for the office space (hint since this is for January record as rent expense) 5. Jan 18 Performed services for customers and received cash immediately for $8.000 6. Jan 20 Purchased $2,000 in supplies on account 7. Jan. 27 The owner Mr. John withdrew $1,000 cash for his personal use Prepare a transaction analysis for the January transactions. Remember to prove the accounting equation equality at the end. 27 One w Cash
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