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please solve, will upvote Jameson Corporation was organized on May 1. The following events occurred during the first month. a. Received $67,000 cash and a
please solve, will upvote
Jameson Corporation was organized on May 1. The following events occurred during the first month. a. Received $67,000 cash and a building valued at $255,000 from the five investors who organized Jameson Corporation. Each investor recelved 103 shares of $10 par value common stock. b. Ordered store fixtures costing $14,000. c. Borrowed $10,000 cash and signed a note due in two years. d. Purchased $13,000 of equipment, paying $1,500 in cash and signing a six-month note for the balance. e. Lent $1,200 to an employee who signed a note to repay the loan in three months. 1. Received and paid for the store fixtures ordered in (b). Required: Prepare journal entries for each transaction. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Noter Enter debits before credits. Journal entry worksheet 6 Record the receipt of $67,000 cash and a building valued at $255,000 from five investors who each received 103 shares of $10 par value common stock. Note: Enter debits before credits. Journal entry worksheet 5 Record the $14,000 order of store fixtures. Note: Enter debits before credits. Journal entry worksheet Record the receipt of the $10,000 cash borrowed on a two-year note. Note: Enter debits before credits. Journal entry worksheet Record the $13,000 purchase of equipment paid for with $1,500 in cash and a six-month note for the balance. Note: Enter debits before credits. Journal entry worksheet Step by Step Solution
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