Business, 18.01.2021 21:10 gungamer720

Early in January, the following transactions were carried out by Maxwell Communications. Sold capital stock to owners for $35,000. Purchased land and a small office building for a total price of $90,000, of which $35,000 was the value of the land and $55,000 was the value of the building. Paid $22,500 in cash and signed a note payable for the remaining $67,500. Bought several computer systems on credit for $9,500 (30-day open account). Obtained a loan from Capital Bank in the amount of $20,000. Signed a note payable. Paid the $22,250 account payable due as of December 31. Required: b. Record the effects of each of the five transactions. (Enter decreases to accounts as a negative.)

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Early in January, the following transactions were carried out by Maxwell Communications. Sold capita...