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Questions 36-40: Prepare journal entries for the following transactions. Place your answers in the appropriate space on the answer sheet. Each entry is worth 2.5
Questions 36-40: Prepare journal entries for the following transactions. Place your answers in the appropriate space on the answer sheet. Each entry is worth 2.5 points, regardless of the number of accounts in the transaction. 36. Borrowed $25,000 from a bank 37. Provided $10,000 of services to clients; 25% was immediately collected in cash and 75% was billed 38. Paid $10,000 due on accounts with suppliers 39. Issued 100 shares of $1 par value common stock for $35 per share 40. Bought equipment for $7,000 in cash Journal entries (#36-40) (feel free to add extra rows onto a third page if needed): Account Title Debit Credit
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