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Record transactions according to the accrual method of accounting During the month of October, the following transactions occurred: 10/1 Issued 10,000 shares of no par
Record transactions according to the accrual method of accounting
During the month of October, the following transactions occurred: 10/1 Issued 10,000 shares of no par common stock for $10 per share. 10/1 Paid rent of $1,500 for office and retail space for month of October. 10/5 Purchase 500 toy trains for $25 each. The trains were received by Steamy Stacks and payment is due on November 5. 10/10 Sold 150 trains for $45 each. The trains were delivered and cash was received. HINT: Remember to 'match' expenses to revenue they helped to generateStep by Step Solution
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