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For each of the following transactions, prepare journal entries: (Credit account titles are automatically Indented when the amount is entered. Do not Indent manually. If
For each of the following transactions, prepare journal entries: (Credit account titles are automatically Indented when the amount is entered. Do not Indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) a The company issued common shares for $136,000. b. The company borrowed $78,000 from a bank. (Use Bank Loan Payable) C Inventory costing $46,900 was purchased on account. d. Rented a retail space and paid a damage deposit of $11,000. e. Received a bill for advertising costs of $3,800 related to the grand opening. f. 8. h. Paid employees wages of $16,800. Inventory costing $40,600 was sold for $65.600, half for cash and half on account. (Hint: Two journal entries are required) A payment of $38,800 was made on accounts payable. L Accounts receivable totalling $20,100 were collected. New equipment costing $130,000 was purchased for cash. search k The company paid $20,300 on its bank loan, which included $12.400 of interest. T -2C
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