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A company founded SwimmingandSunshine.com at the beginning of May. Swimmingand Sunshine.com sells new and used aquatic equipment online. The following events occurred in February. a.
A company founded SwimmingandSunshine.com at the beginning of May. Swimmingand Sunshine.com sells new and used aquatic equipment online. The following events occurred in February. a. Borrowed $47,000 cash from a bank, signing a note due in three years. b. Received investment of cash by organizers and distributed to them 300 shares of $0.10 par value common stock with a market price of $25 per share. C. Purchased a warehouse for $149,000, paying $40,000 in cash and signing a note payable for the balance on a 10-year mortgage. d. Purchased computer and office equipment for $37,000, paying $7,000 in cash and owing the rest on accounts payable to the manufacturers. Required: Prepare journal entries for the above transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the cash borrowed from a bank. Note: Enter debits before credits. Transaction General Journal Debit Credit a. Journal entry worksheet Record the purchase of computer and office equipment. Note: Enter debits before credits. Transaction General Journal Debit Credit d
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