Project Description:

selected transactions for stockton corporation during its first month in business are presented below:

sept. 1 issued common stock in exchange for $25,000 cash received from investors.
5 purchased equipment for $20,000, paying $2,000 in cash and the balance on account.
25 paid $6,000 cash on balance owed for equipment.
30 paid $1,000 cash dividend.

stockton's chart of accounts shows: cash, equipment, accounts payable, common stock, and dividends.


(a) journalize the transactions.
(b) post the transactions to t accounts.
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