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The transactions relating to the formation of Blue Co. Stores Inc., and its first month of operations follow a. The firm was organized and the

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The transactions relating to the formation of Blue Co. Stores Inc., and its first month of operations follow a. The firm was organized and the stockholders invested cash of $7,500. b. The firm borrowed $4.900 from the bank, a short-term note was signed. Display coses and other store equipment costing $1700 were purchased for cash. The original list price of the equipment was $1.900, but a discount was received because the seller was having a sale. d. A store location was rented, and $1300 was paid for the first month's rent e Inventory of $14,600 was purchased: $9,700 cash was paid to the suppliers, and the balance will be paid within 45 days 9. A newspaper ad costing $100 was arranged for, Itran during the second week of the store's operations. The ad will be paid for in h. Additional inventory costing $4.450 was purchased, cash of $1300 was paid, and the balance is due in 30 days 1. In the last three weeks of the first month, sales totaled $14,500, of which $9700 was sold on account. The cost of the goods sold totaled $9.200 J. Employee wages for the month totaled $1,800, these will be paid during the first week of the next month k. The firm collected a total of $3,900 from the sales on account recorded in transaction. 1. The firm paid a total of 54.350 of the amount owed to suppliers from transactione Required: Prepare the journal entries for each of these transactions (if no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction lit Journal entry worksheet 3 2 6 7 8 14 The firm was organized and the stockholders invested cash of $7,500 Not Enter debit before credits General Journal Credit Transaction Cash Additional paid in capital Debat 7.500 Record entry Clear entry View general Journal

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