Prepare journal entries for each transaction listed in M5-5. Data From in M5-5 Using the following categories,

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Prepare journal entries for each transaction listed in M5-5.


Data From in M5-5

Using the following categories, indicate the effects of the following transactions. Use + for increase and −  for decrease and indicate the accounts affected and the amounts.
a. Sales on account were $1,800 and related cost of goods sold was $1,200.
b. Issued 5,000 shares of $1 par value stock for $60,000 cash.

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Financial Accounting

ISBN: 9781264229734

11th Edition

Authors: Robert Libby, Patricia Libby, Frank Hodge

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