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Required information [The following information applies to the questions displayed below] Griffin Service Company, Incorporated, was organized by Bennett Griffin and five other investors (that

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Required information [The following information applies to the questions displayed below] Griffin Service Company, Incorporated, was organized by Bennett Griffin and five other investors (that is, six in total). The following activities occurred during the year: a. Received $76,000 cash from the six investors; each investor was issued 9,000 shares of common stock with a par value of $0.20 per share. b. Signed a five-year lease for $159,000 for the right to use a building each year. c. Purchased equipment for use in the business at a cost of $24,000; one-fourth was paid in cash and the company signed a note for the balance (due in six months). d. Signed an agreement with a cleaning service to pay $180 per week for cleaning the corporate offices next year. e. Recelved an additional contribution from investors who provided $3,600 in cash and land valued at $21,000 in exchange for 1,600 shares of stock in the company. f Lent $3,100 to one of the investors, who signed a note due in six months. g. Bennett Griffin borrowed $7,600 for personal use from a local bank, signing a one-year note, Required: 1. For esch of the preceding transactions, record the effects of the transoction in the appropriate T-accounts. \begin{tabular}{|l|l|l|l|} \hline \multicolumn{2}{|c|}{ Notes Payable } \\ \hline Beginning Balance & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular}

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