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Listed below are selected events. For each event, identify the accounts that should be used to record the economic event. You should enter the numbers
Listed below are selected events. For each event, identify the accounts that should be used to record the economic event. You should enter the numbers that correspond to the accounts that should be used, with a comma and space separating each number (e-g., 9, 10). Your answer will be evaluated based on whether you have included every account that is needed and whether you have included any account that is not needed. An account can be used in analyzing more than one event. Accounts: 1. accounts payable 2. accounts receivable 3. building 4. cash 5.common stock 6. land 7. notes payable 8. retained earnings - salaries expense 9. retained earnings - sales 10. salaries payable 11. store supplies Event A: An investor contributed land to the company, and the land will be used for a future building site. In return, the investor was issued common stock. The land has a value of $120,000. Which accounts should be used? Event B: A customer received merchandise costing $200. The merchandise was damaged in transit. The customer agreed to accept a check for $25 sent by the company to compensate for the damage. Which accounts should be used? Event C: Store supplies purchased on account by the company and costing $800 were returned because of defects. Which accounts should be used? Event D: The company acquired a prefabricated building valued at $40,000, paying a cash down payment of $8.000 and signing a mortgage note for the balance of $32,000. Which accounts should be used? Event E: The company prepared an adjustment at the end of the period to record accrued salaries owed and unpaid in the amount of $32,000. Which accounts should be used
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