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Return to questio March 1 Issue common stock for $11,000 . March 5 obtain $7,000 loan from the bank by signing a note. March 10

Return to questio\ March 1 Issue common stock for

$11,000

.\ March 5 obtain

$7,000

loan from the bank by signing a note.\ March 10 Purchase construction equipment for

$15,000

cash.\ March 15 Purchase advertising for the current month for

$1,200

cash.\ March 22 Provide construction services for

$16,000

on account.\ March 27 Receive

$11,000

cash on account from March 22 services.\ March 28 Pay salaries for the current month of

$4,000

.\ Required:\ Record each transaction. Rochester uses the following accounts: Cash, Accounts Receivable, Equipment, Notes Payable Common Stock, Service Revenue, Advertising Expense, and Salaries Expense. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)\ Answer is complete but not entirely correct.\ \\\\table[[No,Date,,,Debit,Credit],[1,March 01,Cash,0,

11,000

,],[,Common Stock,0,,

11,000(O)/()
image text in transcribed
March 1 Issue common stock for $11,000. March 5 Obtain $7,000 loan from the bank by signing a note. March 10 Purchase construction equipment for $15,000 cash. March 15 Purchase advertising for the current month for $1,200 cash. March 22 Provide construction services for $16,000 on account. March 27 Receive $11,000 cash on account from March 22 services. March 28 Pay salaries for the current month of $4,000. Required: Record each transaction. Rochester uses the following accounts: Cash, Accounts Receivable, Equipment, Notes Payable Common Stock, Service Revenue, Advertising Expense, and Salaries Expense. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

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