Question: Prepare compound journal entries for each transaction. a. The owner invests $11,500 cash and $8,500 of equipment in the company in exchange for common stock.

Prepare compound journal entries for each transaction. a. The owner invests $11,500 cash and $8,500 of equipment in the company in exchange for common stock. 6. The company acquires $7,000 of supplies by paying $1,500 cash and putting $,500 on credit (accounts payable)

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