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Question #2: 25 points Transactions for the Data Services Company for the month of August are presented below: 1. Stockholders invested $35,000 cash in
Question #2: 25 points Transactions for the Data Services Company for the month of August are presented below: 1. Stockholders invested $35,000 cash in the business. 2. Purchased equipment costing $16,500 for cash. I 3. Purchased land for $40,000, paying $4,000 cash down and signing a note for the balance. 4. Purchased supplies on account for $1,800. 5. Paid $3,600 for a one-year insurance policy. 6. Received $4,300 cash for data services provided. 7. Billed a customer $5,000 for data services provided. 8. Paid wages to employees for $2,650. 9. Paid dividends to stockholders of $600. 10. Received payment in full from customer billed in #7 above. Instructions Journalize each transaction, identify each transaction by its number. Omit explanations. Be sure to prepare the journal entries in good form and proper format.
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