For each of the following events, which events result in an exchange transaction for O Brien Company
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For each of the following events, which events result in an exchange transaction for O Brien Company
(Y for yes and N for no)?LO1
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(1) O'Brien purchased a machine that it paid for by signing a note payable. (2) Six investors in O'Brien Company sold their stock to another investor. (3) The company lent $150,000 to a member of the board of directors. (4) O'Brien Company ordered supplies from Office Max to be delivered next week. (5) The founding owner, Meaghan O'Brien, purchased additional stock in another company. (6) The company borrowed $1,000,000 from a local bank.
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