Investments, Inc., began by issuing common stock for cash of $ 220,000. The company immediately purchased computer equipment on account for $ 76,000. (1) The following T-accounts of Eighth Investments, Inc. have been opened for you: Cash, Computer Equipment, Accounts Payable, and Common Stock. Record the first two transactions of the business directly in the T-accounts without using a journal. (2) Show that total debits equal total credits.
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