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Please record the following business events in proper accounting format. Please add explanations. Sept 1 BFF and you invest $10,000 each in order to get

Please record the following business events in proper accounting format.

Please add explanations.

image text in transcribed

Sept 1 BFF and you invest $10,000 each in order to get the ball rolling. BFF also loans $20,000 @12% per annum which is due in 10 years. You contribute your new MacBook pro worth $1, 600 (it has a 3 year AppleCare protection, included in the price, so should last at least 3 years), to help run the business, and your car with Kelley Blue Book value of $7, 500, to be used as a delivery vehicle, for additional stock. As you feel that incorporating might have some advantages, the business is set up as a corporation

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