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Selected transactions for Novak Corp. during its first month in business are presented below. Sept. 1 Issued common stock in exchange for $18,700 cash received
Selected transactions for Novak Corp. during its first month in business are presented below.
Sept. 1 | Issued common stock in exchange for $18,700 cash received from investors. | |
5 | Purchased equipment for $8,810, paying $2,910 in cash and the balance on account. | |
8 | Performed services on account for $18,000. | |
14 | Paid salaries of $1,200. | |
25 | Paid $3,320 cash on balance owed for equipment. | |
30 | Paid $560 cash dividend. |
Jou De aet indan ournal antrias in the audor the a hlem ) for the amounts. Credit account titles are automatically indented when amount is Debit Account Titles and Explanation Credit Date Cash Accounts Receivable Equipment Accounts Payable Common Stock Dividends Service Revenue Salaries and Wages Expense
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