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journal entry Problem 2- Journal Entries (18 goints tetal) For each of the following tramsactions, post the required journalf entry in the appropriate accounts and
journal entry
Problem 2- Journal Entries (18 goints tetal) For each of the following tramsactions, post the required journalf entry in the appropriate accounts and amounts mpany receives 550,000 in cash from an investior in exchange for Common Stock Cash So.C00 To Commom stocx Cy so,000 October 31Johnson pays a landlard $9,600 i advance for 3 mouths of rent, November 1 -Jamuary 3 Johnson purchases a machine for $15,000. paying $12,000 of it in cash and receiving an imvuice for the remainder November 5 J Johnson pays the amount still owed from the November 5 machinery parchase November I5 result of your judgement to determine what needs one of the transactions above? (As Johnson's accountant, ase to be recognized ) November 30 This is the end of Johnson's fiscal year. What adjusting journal entry must Johasce enet as aStep by Step Solution
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