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Journalize the following transactions in the space procvided, then post to the T accounts. The first entry has been done for you. Record the next
Journalize the following transactions in the space procvided, then post to the "T" accounts. The first entry has been done for you. Record the next twp entries and the post them using the same T accounts (Use the "T" accounts below in place of a "Chart of Accounts") Recording the sale of Capital Stock (par value = $10) 1) Record the sale of 1,000 shares at $12 per share (= $12,000) Debit Credit Cash 12,000 10,000 Common Stock - Par Common Stock - Paid In Capital in Excess of Par 2,000 2) Record the sale of 1,000 shares at $50 per share (= $50,000) Debit Credit 3) Record the sale of 1,000 shares at $100 per share (= $100,000) Debit Credit Assets Liabilities Equity Revenue Expense Accts Payable Sales Revenue Cash 12,000 Cost Of Goods Sold Common Stock ($10 Par) 10,000 Common Stock Paid-In Capital In Excess of Par 2,000 Accts Receivable Wages Payable Retained Earnings Wages Expense Inventory L/T Note Payable Dividends Rent Expense Capital Asset Income Summary Deprec Expense Acc Deprec
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