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Prepare journal entries to record the above transactions. The first one is done or you as an example. The company issues capital stock for $100,000.

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Prepare journal entries to record the above transactions. The first one is done or you as an example. The company issues capital stock for $100,000. The company borrows $50,000 from the bank the company pays its rent for one year in advance. $24,000. The company buys inventory for $40,000 on account. The company sells inventory costing $30,000 for $50,000 on account

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