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May 1 Received contributions of $9,000 from each of the two principal owners of the new business in exchange for shares of stock.............. May 1
May 1 Received contributions of $9,000 from each of the two principal owners of the new business in exchange for shares of stock.............. May 1 Purchased ten bicycles for $300 each on an open account. The company has 30 days to pay for the bicycles.............. May 5 Registered as a vendor with the city and paid the $15 monthly fee.................... May 9 Purchased 20 pairs of in-line skates at $125 per pair, 20 helmets at $50 each, and 20 sets of protective gear (knee and elbow pads and wrist guards) at $45 per set for cash..................... May 10 Purchased $100 in miscellaneous supplies on account. The company has 30 days to pay for the supplies ....................... May 15 Paid $125 bill from local radio station for advertising for the last two weeks of may.......................... May 17 Customers rented in-line skates and bicycles for cash of $1,800........................... May 24 Billed the local part district $1,200 for in-line skating lessons provided to neighborhood children. The park district is to pay one-half of the bill within five working days and rest within 30 days. ........................ May 29 Received 50% of the amount billed to the park district.................... May 30 Customers rented in-line skates and bicycles for cash of $3,000..................... May 30 Paid wages of $160 to a friend who helped over the weekend......................... May 31 Paid the balance due on the bicycles....................... prepare a table to summarize the preceding transaction as they affect the accounting equation. identify each with the date
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