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Please help!! Robin Harrington established Time Definite Delivery on January 1. The following transactions occurred during the company's most recent quarter. a. Issued common stock
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Robin Harrington established Time Definite Delivery on January 1. The following transactions occurred during the company's most recent quarter. a. Issued common stock for $90,000. b. Provided delivery service to customers, receiving $82,000 in accounts receivable and $21,000 in cash. c. Purchased equipment costing $92,000 and signed a long-term note for the full amount. d. Incurred repair costs of $4,000 on account. e. Collected $75,000 from customers on account. f. Borrowed $100,000 by signing a long-term note. g. Prepaid $75,400 cash to rent equipment next quarter. h. Paid employees $0,000 for work done during the quarter. i. Purchased (with cash) and used $50,000 in fuel for delivery equipment. j. Paid $3,000 on accounts payable. k. Ordered, but haven't yet received, $800 in supplies. Required: For each of the transactions, prepare journal entries. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)Step by Step Solution
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