Issued 2700 shares of 001 par value common stock to investors for cash at 27 per share Borrowed 63000 from the bank to provide additional funding to begin operations the note is due in two years Paid 1200 for the current months rent of a warehouse and another 1200 for next months rent

Answer rating: 100% (QA)

Journal No Date Account Titles and Explanation Debit Credit Cash 200020 40000 a 20 39980 Common stoc... View the full answer