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Make a transaction journal Transactions: Received $500,000 cash and issued common stock. Opened a new checking account at Long Beach National Bank and deposited the
Make a transaction journal
Transactions: Received $500,000 cash and issued common stock. Opened a new checking account at Long Beach National Bank and deposited the cash received from the stockholders 01/01/2018 Paid $50,000 cash for the TQA franchise. 01/01/2018 Paid$20,000 cash and issued a $400,000 10-year, 5% notes payable for land wit valued the land and building at $100,000 and s500,000, respectively cash and disu ed0300% rnsteescweable for land with an existing building. An independent appraiser Transactions: Received $500,000 cash and issued common stock. Opened a new checking account at Long Beach National Bank and deposited the cash received from the stockholders 01/01/2018 Paid $50,000 cash for the TQA franchise. 01/01/2018 Paid$20,000 cash and issued a $400,000 10-year, 5% notes payable for land wit valued the land and building at $100,000 and s500,000, respectively cash and disu ed0300% rnsteescweable for land with an existing building. An independent appraiser Step by Step Solution
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