Question: Chapter 1, problem 1-8A: J. D. Simpson started The Simpson Co., a new business that began operations on May 1. The Simpson Co. completed the

Chapter 1, problem 1-8A:

J. D. Simpson started The Simpson Co., a new business that began operations on May 1. The Simpson Co. completed the following transactions during its first month of operations.

May 1	J. D. Simpson invested $60,000 cash in the company in exchange for common stock.
1	The company rented a furnished office and paid $3,200 cash for May

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