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Selected transactions for Pina Colada Corp. during its first month in business are as follows. Sept. 1 Stockholders invested $ 1 2 , 4 0
Selected transactions for Pina Colada Corp. during its first month in business are as follows.
Sept. Stockholders invested $ cash in the business in exchange for common stock.
Purchased equipment for $ paying $ in cash and the balance on account.
Paid $ cash on balance owed for equipment.
Declared and paid a $ cash dividend.
Pina Colada's chart of accounts shows No Cash, No Equipment, No Accounts Payable, No Common Stock, and No Dividends.
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