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Pls help with HW First Period of Operations Corporation Prepare Your 3 Financials Statements Based on the Transactions Listed Below: a. you invest $20,000 in
Pls help with HW
First Period of Operations Corporation Prepare Your 3 Financials Statements Based on the Transactions Listed Below: a. you invest $20,000 in the business in exchange for common stock b. Company borrows $250,000 from the Bank of USA c. Company buys an office building for $200,000 cash d. Company had sales of $20,000 on account (customers did not pay cash today) e. received $5,000 fom customers for sales of services f. the company paid for 2 years of insurance premiums in advance - $12,000 paid today g. received $10,500 in sales for services provided to customers h. Paid the following monthly operating expenses: 250utilitiesexpense100interestexpense7,500wagesexpense i. provided $2,500 of services to patients on account; cash will be collected at a later date j. paid cash dividends of \$5,000 to its stockholders (shareholders) k. the company received the $20,000 from customers in transaction (d) Step by Step Solution
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