Question
What kind of activity is described by each of the events of the transactions below? (a),Trude Co. buys a piece of equipment for $40,000. (b),Trude
What kind of activity is described by each of the events of the transactions below?
(a),"Trude Co. buys a piece of equipment for $40,000."
(b),"Trude Co. borrows $50,000 from a bank, signing a long-term note payable."
(c),"Trude Co. pays $20,000 of its outstanding accounts payable."
(d),"May Corp. arranges $10,000 in new short-term borrowings from the bank."
(e),"May Corp. issues 1,000 of its common stock for $10 per share."
(f),"May Corp. sells one of the buildings it used for operations for $500,000."
(g),May Corp. receives interest revenue on invested funds.
(h),May Corp. pays dividends to its investors.
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