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itCiCase in stockholders' equity (g) an increase in stockholders' equity and a decrease in liabilities. 2.9 On June 1, Maui Travel Agency, Inc., was established.

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itCiCase in stockholders' equity (g) an increase in stockholders' equity and a decrease in liabilities. 2.9 On June 1, Maui Travel Agency, Inc., was established. The following transactions were pleted during the month 1. Stockholders invested $40,000 cash, receiving common stock in exchange. 2. Paid $1,000 cash for June office rent. 3. Purchased office equipment for $5,000 cash. 4. Paid $1,000 cash for office supplies. 5. Incurred $500 of advertising costs in the Daily Maui, on account. 6. Earned $25,000 for services rendered: Cash of $12,000 is received from customers, and balance of $13,000 is billed to customers on account. 7. Paid $750 cash dividend. 8. Paid Daily Maui amount due in transasion ra section 9. Paid employees' salaries $2,500. 10. Cash of $10,000 is received from customers who have previously been billed in transactio

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