Question: Need help with accounting assignment (Excel file cant be changed) a. TRANSACTIONS-ANALYZE EACH ONE AND INSERT THE ENTRIES 1 Lavon Corporation issued 100,000 shares of
a. TRANSACTIONS-ANALYZE EACH ONE AND INSERT THE ENTRIES 1 Lavon Corporation issued 100,000 shares of $1.00 par common stock at par, receiving cash. 2 The company purchased equipment costing $15,000, paying cash 3 Supplies were purchased for $4,000, on account. 4 The company paid rent in the amount of $2,500. 5 Advertising was purchased on account, $3,000. 6 Salaries were paid to employees in cash, $12,000. 7 The company provided $18,000 of services; $6,000 was received in cash and the rest will be received in 30 days. 8 The company paid $3,500 cash on account. 9 The company received $5,000 cash from customers, on account. 10 Depreciation was recorded in the amount of $1,500. (Adj.) 11 Supplies were used up in the amount of $1,000. (Adj.)
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