Question: Exercise 2-3 Selected transactions for Headlands Industries, an interior decorating firm, in its first month of business, are as follows. Jan. 2Invested 20,030 cash in

Exercise 2-3

Selected transactions for Headlands Industries, an interior decorating firm, in its first month of business, are as follows.

Jan. 2Invested 20,030 cash in the business in exchange for ordinary shares.3Purchased used car for 9,347 cash for use in the business.9Purchased supplies on account for 668.112,404 of services were performed and billed.

16Paid 267 cash for advertising.20Received 935 cash from customers billed on January 11.23Paid creditor 401 cash on balance owed.28Declared and paid a 1,335 cash dividend.

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