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Using the chart of accounts provided on page 2 of the Exam 2 format document, journalize the following transactions for the month of June.
Using the chart of accounts provided on page 2 of the Exam 2 format document, journalize the following transactions for the month of June. Proper journal formatting is required. Not all accounts provided in the chart of accounts will be used. 1 Transferred cash from a personal bank account in exchange for stock, $75,000 2 3 Purchased $14,000 of merchandise inventory by issuing a 90 day, 12% interest paying note. Paid cash for three months rent in advance, $3,000 At the end of June, the following adjustment data were assembled. 30 Rent expired during June is $1,000 30 The unadjusted trial balance indicates Unearned Fees of $3,000. However, only $500 of the balance remains unearned.
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