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Required information [The following information applies to the questions displayed below.] On September 1, Pat Hopkins established Ona Cloud Corporation (OCC) as a provider
Required information [The following information applies to the questions displayed below.] On September 1, Pat Hopkins established Ona Cloud Corporation (OCC) as a provider of cloud computing services. Pat contributed $10,000 for 1,000 shares of OCC. On September 8, OCC borrowed $30,000 from a bank, promising to repay the bank in two years. On September 10, OCC wrote a check for $20,000 to acquire computer equipment. On September 15, OCC received $1,000 of supplies purchased on account and, on September 16, paid $1,500 for September rent. Through September 22. OCC provided its customers $8,000 of services, of which OCC collected $6,000 in cash. On September 28, OCC paid $200 for Internet and phone service this month. On September 29, OCC paid wages of $4,000 for the month. Finally, on September 30, OCC submitted its electricity meter reading online and determined that the total charges for the month will be $300. This amount will be paid on October 14 through a preauthorized online payment. Required: 1. Indicate the accounting equation effects of the September events, using table below. (Enter any decreases to account balances with a minus sign.) September 01 September 08 September 10. September 15 Assets Liabilities < Prev So 10 11 of 11 Next > Stoc
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