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Required information [The following information applies to the questions displayed below/) Mulkeen Service Company, Incorporated, was incorporated by Conor Mulkeen and five other managers. The

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Required information [The following information applies to the questions displayed below/) Mulkeen Service Company, Incorporated, was incorporated by Conor Mulkeen and five other managers. The following activities occurred during the year: a. Recelved $52,000 cash from the manogers; each was issued 1,400 shares of common stock. b. Purchased equipment for use in the business at a cost of $9,600; one-fourth was paid in cash and the company. signed a note for the balance (due in six months). c. Signed an agreement with a cleaning service to pay it $80 per week for cleaning the corporate offices, beginning next year: d. Canor Mulkeen borrowed $17,000 for personal use from a local bank, signing a one-year note. Required: 1. For each of the above transactions, record its effects in the appropriate T-accounts. Assume all beginning balances are aero. 1. For each of the above transactions, record its effects in the appropriate T-accounts. Assume all beginning balances are zero

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