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Make a balance sheet and income statement with the following transactions: (Please show work) a. The owner invested $100,000 in cash to start the business.
Make a balance sheet and income statement with the following transactions: (Please show work) a. The owner invested $100,000 in cash to start the business. b. The company leased office space and paid the first month's rent of $7,000 c. The company purchased office equipment for $15,000 in cash. d. The company provided consulting services to a client and invoiced them for $8,000, of which $4,000 was paid in cash and the remainder was billed as accounts receivable. e. Company purchased supplies for 6,000 in cash f. The company paid 4,000 for legal fees. g. Hired two employees, paying them a total of $4,000 in salaries for the first month h. The company then borrowed $500,000 by issuing 5% bonds due in 10 years, with interest to be paid semiannually ($12,500)
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