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Exercise 4. Perez Company had the following transactions during January: 1. Jan 1 Issued $100,000 in stock to owners in exchange for cash to start
Exercise 4. Perez Company had the following transactions during January: 1. Jan 1 Issued $100,000 in stock to owners in exchange for cash to start the business. 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. 3. Jan 15 Paid January rent of $2.400 for the office space (hint: since this is for January, record as rent expense) 4. Jan 18 Performed services for customers and received cash immediately for $8,000. 5 Jan 20 Purchased $2.000 in supplies on account Prepare a transaction analysis for the January transactions. Remember to prove the accounting equation at the end. Assets Liablity Equity RevenueExpense Accounts Cash Supplies mnt Payebe Common Service Notes Rent Paysble Stock Revenue Expense nsued stock to ownees an5 Boowed money brom benk Jan 10 Purchased eqipment with Jan 15 Paid January rent Jan 18 Perdoemed services Jan 20 Purchased supplies on Balance
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