Question

Which of the following events results in an exchange transaction for O’Brien Company (Y for Yes and N for No)?
_____ (1) O’Brien purchased a machine and signed a note payable, payable in six months.
_____ (2) Six investors in O’Brien Company sold their shares to another investor.
_____ (3) The Company lent $ 150,000 to a member of the board of directors.
_____ (4) O’Brien Company ordered supplies from Office Max to be delivered next week.
_____ (5) The founding owner, Meaghan O’Brien, purchased additional shares in another company.
_____ (6) The company borrowed $ 1,000,000 from a local bank.


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  • CreatedAugust 04, 2015
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