Question: Hi please help me with these problems. Please provide detailed answers and explanations. Thanks! BUS 20100 Graded Problem #1 Bryant Corporation, a tax prepartation firm,

Hi please help me with these problems. Please provide detailed answers and explanations. Thanks!

Hi please help me with these problems. Please provide detailed answers and

BUS 20100 Graded Problem \#1 Bryant Corporation, a tax prepartation firm, had the following transactions during July 2020, its first month of operations. 1. Sold common stock for $475,000. 2. Purchased a building for $100,000 cash. 3. Prepared tax returns for various clients on account for $8,000. 4. Received $4,000 from the clients in transaction \#3. 5. Paid $2,500 to employees for their salaries. Required: using a worksheet in the format given below, record the above transactions (hint: one of the accounts on the worksheet will not be used). 1. +475,000 +475,000 2. 3. 4. 5. Write Journal Entry for the above transactions. 1. Dr. Cash 475000 Cr. Common Stock 475000 2

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