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Question 5 During 2022, Cullumber Company entered into the following transactions. 1.Purchased equipment for $277,720 cash.2.Issued common stock to investors for $135,480 cash.3.Purchased inventory of

Question 5

During 2022, Cullumber Company entered into the following transactions.

1.Purchased equipment for $277,720 cash.2.Issued common stock to investors for $135,480 cash.3.Purchased inventory of $66,390 on account.

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