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Prompts 2 . 5 , 2 . 6 , and 2 . 7 utilize the following information for Company ABC:March 1 5 , 2 0
Prompts and utilize the following information for Company ABC:March : Company ABC obtained a $ loan from a bank to be paid back in June : Hasan invests $ Cash into the business in exchange for Common Stock.December : The business records the adjusting entry for one months worth ofdepreciation expense relating to machinery purchased on January for $ with a usefullife of years.Prompt #Please prepare the necessary TAccounts for the above three transactions from the companysperspective. HINT: Utilize Rolling Balances in each account where applicable and be sure toinclude final balances.Prompt #Are the total debit and credit balances across all TAccounts equal? Should they be Please explainwhy or why not?Prompt #Provide the individual Journal Entries to record the three transactions from the companysperspective.
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