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On January 1, 2014, Faith Schultz established Heavenly Realty, which completed the following transactions during the month a. Faith Schultz transferred cash from a personal

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On January 1, 2014, Faith Schultz established Heavenly Realty, which completed the following transactions during the month a. Faith Schultz transferred cash from a personal bank account to an account to be used for the business in exchange for capital stock, $23,000. b. Paid rent on office and equipment for the month, $4,350. c. Purchased supplies on account, $1,290 d. Paid creditor on account, $470. e. Earned sales commissions, receiving cash, $19,780. f. Paid automobile expenses (including rental charge) for month, $1,210, and miscellaneous expenses, $810 g. Paid offige salaries, $2,530 h. Determined that the cost of supplies used was $710 i. Paid dividends, $1,170o. Required

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