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Business, 24.03.2021 17:00 Jasten

Following the transaction of Dennen, Inc for the month of January Borrowed $25,000 from a local bank.
Lent $8,500 to an affiliate; accepted a note due in one year.
Sold to investors 70 additional shares of stock with a par value of $0.10 per share and a market price of $5 per share; received cash. Purchased $25,000 of equipment, paying $10,100 cash and signing a note for the rest due in one year. Declared $4,000 in cash dividends to stockholders, to be paid in February.

Required:
Prepare the journal entry record each of the above transaction for the month of January.

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Following the transaction of Dennen, Inc for the month of January Borrowed $25,000 from a local ban...
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