Question: Adjustment Process Alex Vera organized Succulent Express at the beginning of February 20Y4. During February, Succulent Express entered into the following transactions: a. Terry Mason

 Adjustment Process Alex Vera organized Succulent Express at the beginning of

Adjustment Process Alex Vera organized Succulent Express at the beginning of February 20Y4. During February, Succulent Express entered into the following transactions: a. Terry Mason invested $28,375 in Succulent Express in exchange for common stock. b. Paid 56,300 on February 1 for an insurance premium on a one-year policy. c. Purchased supplies on account, $3,000. d. Received fees of 540,245 during February. e. Paid expenses as follows: wages, $16,800; rent, $2,800; utilities, $1,400; and miscellaneous, $1,540. f. Paid dividends of 58,310 . The transactions above have already been recorded in the integrated financial statement framework below

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