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Griffin Service Company, Incorporated, was organized by Bennerr Griffin and five other imvestors (that is, six in tota) The following activities occurred during the year:

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Griffin Service Company, Incorporated, was organized by Bennerr Griffin and five other imvestors (that is, six in tota) The following activities occurred during the year: a. Recelved $84,000 cash from the six investors, each investor was issued 9,800 shares of common stock with a par value of $020 per share. b. Signed a five-year lease for $171,000 for the right to use a buliding each yeat c. Purchased equipment for use in the business at a cost of $32,000. one-fourth was paid in cash and the company signed a note for the balance (due in six months) d. Signed an agreement with o cleaning service to pay $260 per week for cleaning the corporate offices next year: e. Received an additional contribution from investors who provided $4,400 in cash and land valued at $29.000 in exchange for 2.400 shares of stock in the company. f Lent $3,900 to one of the investors, who signed a note due in sic months 9 . Bennetr Grimin borrowed $8.400 for personal use from a local bank, signing a one-year note 2. Using the bolances in the T-accounts, fill in the following amounts for the accounting equation

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