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Need to Journalize, T Accounts, Trial Balance and Statements On January 1, Snazzy Sneakers sold $250,000 worth of Common Stock to its shareholders 2) 1)
Need to Journalize, T Accounts, Trial Balance and Statements
On January 1, Snazzy Sneakers sold $250,000 worth of Common Stock to its shareholders 2) 1) On January 2, Snazzy paid $2,000 for four months of rent. 3) On January 2, Snazzy purchased equipment for $300,000. They paid $200,000 cash and borrowed the remainder on an installment note payable. The note payable is for 10 years at 4% interest. Snazzy will make monthly payments on the loan of $1,012.45. 4) On January 3, Snazzy hired four personal trainers and recruiters 5) On January 15th, Snazzy billed Roadrunner Racers $15,000 for training services rendered. 6) On January 22nd, Snazzy paid a $500 utility bill and a $400 phone bill. 7) On January 27th, Snazzy received $10,000 from Roadrunner Racers for partial payment of its January 15th bill. 8) On January 31st, Snazzy accrued its rent expense for January 9) On January 31st Snazzy made its first $1,012.45 payment on its installment note. 10) On January 31st, Snazzy recorded $2,500 of depreciation expense on the equipmentStep by Step Solution
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