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I have to make each one of these into a journal entry for accounting. I've finished all of them except b, I'm stuck on what
I have to make each one of these into a journal entry for accounting. I've finished all of them except b, I'm stuck on what to put in credit and debit. Any advice would be helpful.
Kelsey Baker founded GolfDeals.com at the beginning of February. GolfDeals.com sells new and used golf equipment online. The following events occurred in February. a. Borrowed $49,000 cash from a bank, signing a note due in three years. b. Received investment of cash by organizers and distributed to them 500 shares of $0.10 par value common stock with a market price of $30 per share. c. Purchased a warehouse for $153,000, paying $42,000 in cash and signing a note payable for the balance on a 10-year mortgage. d. Purchased computer and office equipment for $39,000, paying $8,000 in cash and owing the rest on accounts payable to the manufacturers. e. Loaned $3,000 to an employee who signed a note due in three months. f. Paid $6,500 to the manufacturers in (d) above. g. Purchased short-term investments for $16,000 cashStep by Step Solution
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