Rosa Anderson opened a dental practice in Spokane, Washington as a corporation. The following transactions took place
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Rosa Anderson opened a dental practice in Spokane, Washington as a corporation. The following transactions took place in August:
Aug 1 Sold $50.000 of common stock to Anderson to start the business.
5 Purchased dental supplies on account, $6.300.
7 Paid monthly office rent of $1,000.
10 Provided S3.800 of dental services to patients. Received cash of
$1,200 for these services and sent bills to patients for the remainder.
Using the steps outlined in the five-step transaction analysis, record the transactions in the journal?
Common StockCommon stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...
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Journal DATE ACCOUNTS POST Dr Cr REF Aug 1 Cash 50000 Commo...View the full answer
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