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Nathanson Corporation was organized on May 1. The following events occurred during the first month. a. Received $70,000 cash from the five investors who organized
Nathanson Corporation was organized on May 1. The following events occurred during the first month. a. Received $70,000 cash from the five investors who organized Nathanson Corporation. Each investor received 100 shares of $10 par value common stock b. Ordered store fixtures costing $15,000 c. Borrowed $18.000 cash and signed a note due in two years d. Purchased $11000 of equipment paying $1,500 in cash and signing a six-month note for the balance e Lent $2,000 to an employee who signed a note to repay the loan in three months. 1. Received and paid for the store fixtures ordered in (0) Journal entry worksheet
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