Question
Following are the transactions of Dennen, Inc., for the month of January 2015. a. Borrowed $15,000 from a local bank. b. Lent $6,900 to an
Following are the transactions of Dennen, Inc., for the month of January 2015.
a. Borrowed $15,000 from a local bank.
b. Lent $6,900 to an affiliate; accepted a note due in one year.
c. Sold 70 additional shares of stock with a par value of $0.10 per share to investors for $800 cash.
d. Purchased $27,000 of equipment, paying $10,400 cash and signing a note for the rest due in one year.
e. Declared and paid $11,100 in dividends to stockholders.
Prepare the journal entry to record each of the above transactions for the month of January 2015. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
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