The transactions relating to the formation of blue co. stores inc., and its first month of operations follow.
(a) the firm was organized and the stockholders invested cash of $8,500.
(b) the firm borrowed $5,400 from the bank; a short-term note was signed.
(c) display cases and other store equipment costing $1,800 were purchased for cash.
prepare journal entries for each of these transaction.
Answers: 3
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