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Record the owner's investment in the company inventory. On July 1, 2017, you, the company owner, have invested $15,000 of your own money into the
Record the owner's investment in the company inventory. On July 1, 2017, you, the company owner, have invested $15,000 of your own money into the business in order to purchase the inventory owned by a small manufacturer. The manufacturer you bought out had $800 in Raw Materials Inventory, $1,200 in Work in Process, and $500 in Finished Goods Inventory. The remainder of the cash that was not spent was put into the company's cash account. Go to QuickBooks and login to your company. Click the "+\" (plus sign) at the upper right-hand corner of the screen. Under the "Other" column, choose "Journal Entry.\" Enter the I'lournal Date" of "7/1/2017\" and notice the journal entry number will auto-populate. Journalize the transaction described above
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