Answer to Question #321206 in Accounting for Ismayri Reyes

Question

Record the following transactions using the accounting equation and T accounts.

1.Owner contributed $50,000 in cash for company stock.

2.Purchased building for $120,000, making a $20,000 down payment and signing a promissory note for the balance.

3.Sold products to customers for $15,000 cash.

Answer 1

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