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help Jameson Corporation was organized on May 1 . The following events occurred during the first month. a. Received $69,000 cash and a building valued
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Jameson Corporation was organized on May 1 . The following events occurred during the first month. a. Received $69,000 cash and a building valued at $250,000 from the five investors who organized Jameson Corporation. Each investor received 106 shares of $10 par value common stock. b. Ordered store fixtures costing $11,000. c. Borrowed $18,000 cash and signed a note due in two years. d. Purchased $21,000 of equipment, paying $1,700 in cash and signing a six-month note for the balance. e. Lent $1,900 to an employee who signed a note to repay the loan in three months. f. Received and paid for the store fixtures ordered in (b). Requlred: Prepare journal entries for each transaction. Note: If no entry is requlred for a transactlon/event, select "No journal entry requlred" In the flrst account fleld. Journal entry worksheet 23456> Record the receipt of $69,000 cash and a building valued at $250,000 from five investors who each received 106 shares of $10 par value common stockStep by Step Solution
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