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Toonie Tuesday Company began business on February 1, 2020 Record journal entries for each of the following transactions: a) February 1, 2020 The company issued

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Toonie Tuesday Company began business on February 1, 2020 Record journal entries for each of the following transactions: a) February 1, 2020 The company issued common shares in exchange for: Cash 20,000 Equipment 40,000 b) February 3, 2020 The company paid rent on their retail building. Rent 1,500 c) February 5, 2020 The company sold product to Wing Wednesday Corp. on account. Sales total: 20,000 Payment is due in 30 days February 7, 2020 Paid staff wages for two weeks work 4,000 d) February 10, 2020 Received payment from February 5th customer Customers paid 50% of what they owed, February 12, 2020 Acquired a bank loan for with 56 annualInteresti 50,000 REQUIRED SONY February 10, 2020 Received payment from February 5th customer. Customers paid 50% of what they owed. f) February 12, 2020 Acquired a bank loan for with 5% annual interest. 50,000 REQUIRED: Record journal entries for each of the above transactions

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