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HW pls help ABC Co. had the following transactions during January 2022: a. Individual deposited $50,000 into ABC Co.'s bank account in exchange for stock
HW pls help
ABC Co. had the following transactions during January 2022: a. Individual deposited $50,000 into ABC Co.'s bank account in exchange for stock b. Co. received a loan from the Bank of UIW for $500,000 c. on 1/1 you purchased a 6 month insurance policy for $12,000 d. ABC Co. provided $50,000 of services to customers on account (no cash paid) e. ABC Co. received cash of $20,000 from customers for services not yet provided f. during the month, ABC Co. paid miscellaneous expenses of $5,000 Adjustments al received $10,000 for services previously provided in transaction (d) a2 it's the end of the month, make the appropriate adjustments to any prepaid expenses previously recorded a3 the first loan payment is due to the Bank of UIW; ABC Co. made a loan payment for $10,000 ABC Co. had the following transactions during January 2022: a. Individual deposited $50,000 into ABC Co.'s bank account in exchange for stock b. Co. received a loan from the Bank of UIW for $500,000 c. on 1/1 you purchased a 6 month insurance policy for $12,000 d. ABC Co. provided $50,000 of services to customers on account (no cash paid) e. ABC Co. received cash of $20,000 from customers for services not yet provided f. during the month, ABC Co. paid miscellaneous expenses of $5,000 Adjustments al received $10,000 for services previously provided in transaction (d) a2 it's the end of the month, make the appropriate adjustments to any prepaid expenses previously recorded a3 the first loan payment is due to the Bank of UIW; ABC Co. made a loan payment for $10,000 Step by Step Solution
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