Business, 27.04.2021 15:20 MzThixkumz
Jameson Corporation was organized on May 1. The following events occurred during the first month.
A. Received $67,000 cash from the five investors who organized Jameson Corporation. Each investor received 110 shares of $10 par value common stock.
B. Ordered store fixtures costing $10,000.
C. Borrowed $16,000 cash and signed a note due in two years.
D. Purchased $18,000 of equipment, paying $1,400 in cash and signing a six-month note for the balance.
E. Lent $1,700 to an employee who signed a note to repay the loan in three months.
F. Received and paid for the store fixtures ordered in (b).
Required:
Prepare journal entries for each transaction.
Answers: 3
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Jameson Corporation was organized on May 1. The following events occurred during the first month....
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