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Prepare the detailed journal entries for the following transactions for General Electric Company for May 2023. The company issued bonds worth $2,000,000 at an interest
- Prepare the detailed journal entries for the following transactions for General Electric Company for May 2023. The company issued bonds worth $2,000,000 at an interest rate of 5%, purchased equipment worth $600,000, paid salaries of $150,000, and received cash from customers amounting to $800,000. Discuss the impact of these transactions on the company's financial statements.
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