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Randys Restaurant Company (RRC) entered into the following transactions during a recent year. April 1 Purchased a new food locker for $5,800 by paying $1,400

Randys Restaurant Company (RRC) entered into the following transactions during a recent year.

April 1

Purchased a new food locker for $5,800 by paying $1,400 cash and signing a $4,400 note due in six months.

April 2

Installed an air-conditioning system in the food locker at a cost of $3,400, purchased on account.

April 30

Wrote a check for the amount owed on account for the work completed on April 2.

May 1

A local carpentry company repaired the restaurants front door, for which RRC wrote a check for the full $160 cost.

June 1

Paid $10,080 cash for the rights to use the name and store concept created by a different restaurant that has been successful in the region. For the next four years, RRC will operate under the Mullet Restaurant name, with the slogan business customers in the front, and partiers in the back.

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Required: 1-a. Complete the table below, indicating the account, amount, and direction of the effect for the above transactions. (Enter any decreases to Assets, Liabilities, or Stockholders' Equity with a minus Sign Assets Date Liabilities April 01 April 02 April 30 May 01 June 1-b. Prepare the journal entries for each of the above transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) view transaction list view general journal Journal Entry worksheet Record the purchase of a new food locker for $5,800 paying $1,400 cash and signing a note for the rest. Date General Journal Debit Credit April 01 Enter debits before credits clear entry record entry Stockholders' Equity

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