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please help. the numbers in the second photo were all put in by me so they may be incorrect. im confused by what par values

please help. the numbers in the second photo were all put in by me so they may be incorrect. im confused by what par values mean? thank you image text in transcribed
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Saved Required information E2-9 (Algo) Analyzing the Effects of Transactions in T-Accounts LO2-4 (The following information applies to the questions displayed below.) Griffin Service Company, Inc., was organized by Bennett Griffin and five other investors. The following activities occurred during the year: a. Received $84,000 cash from the six investors; each investor was issued 9,800 shares of common stock with a par value of $0.20 per share. b. Purchased equipment for use in the business at a cost of $32,000; one-fourth was paid in cash and the company signed a note for the balance (due in six months). c. Signed an agreement with a cleaning service to pay $260 per week for cleaning the corporate offices next year. d. Received an additional contribution from investors who provided $4,400 in cash and land valued at $29,000 in exchange for 2,400 shares of stock in the company. e. Lent $3,900 to one of the investors, who signed a note due in six months. f. Bennett Griffin borrowed $8,400 for personal use from a local bank, signing a one-year note. 2-9 Part 1 equired: For each of the preceding transactions, record the effects of the transaction in the appropriate T-accounts. Cash Notes Receivable Feg. Bal. Beg. Bal. 84,000 3,900 4,400 End. Bal. 88,400 3,900 AN Required information Requirea: 1. For each of the preceding transactions, record the effects of the transaction in the appropriate T-accou Cash Notes Receivable Beg. Bal. Beg. Bal. 84,000 3,900 4,400 88,400 End. Bal. End. Bal. 3,900 Land Equipment O 32,000 Beg. Bal. (6) Beg. Bal. (d) 29,000 + End. Bal. 32,000 End. Bal. 29,000 Notes Payable Common Stock Beg. Bal. Beg. Bal. (b) 24,000 End. Bal. 24,000 End. Bal. Additional Pald-in Capital Beg. Bal. End. Bal.

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