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Please help, it will be very appreciated! Also, please make sure calculations are correct in the problem. Following are the transactions of JonesSpa Corporation, for
Please help, it will be very appreciated! Also, please make sure calculations are correct in the problem.
Following are the transactions of JonesSpa Corporation, for the month of January. a. Borrowed $27,000 from a local bank; the loan is due in 9 months. b. Lent $7,100 to an affiliate; accepted a note due in one year. c. Sold to investors 70 additional shares of stock with a par value of $0.10 per share and a market price of $25 per share; received cash. d. Purchased $18,000 of equipment, paying $4,200 cash and signing a note for the rest due in one year. e. Declared $2,100 in cash dividends to stockholders, to be paid in February. For each of the above transactions, indicate the accounts and amounts. A sample is provided. Note: Enter decreases to an element of the balance sheet with a minus slgnStep by Step Solution
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