Business, 17.02.2020 22:01 donterriuscollier

Nathanson Corporation was organized on May 1. The following events occurred during the first month.

(a) Received $66,000 cash from the five investors who organized Nathanson Corporation. Each investor received 102 shares of $10 par value common stock.

(b) Ordered store fixtures costing $16,000.

(c) Borrowed $12,000 cash and signed a note due in two years.

(d) Purchased $20,000 of equipment, paying $1,900 in cash and signing a six-month note for the balance.

(e)Lent $1,600 to an employee who signed a note to repay the loan in three months.

(f) Received and paid for the store fixtures ordered in (b).

Required:

Prepare journal entries for each transaction. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

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Nathanson Corporation was organized on May 1. The following events occurred during the first month.<...

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