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1-Jun Obtain a loan of $70,000 from the bank by signing a note.
2-Jun Issue common stock in exchange for cash of $40,000.
7-Jun Purchase car wash equipment for $75,000 cash.
8-Jun Receive $2,000 cash from customers for work to be performed next month.
10-Jun Purchase cleaning supplies of $8,000 on account.
12-Jun Wash 500 cars for $10 each, all on account, no customers have paid cash yet.
16-Jun Record employees work performed of $900, but they have not been paid yet.
19-Jun Pay for 6 months of advertising in advance, costing $1,200.
23-Jun Receive $3,000 payment from customers accounts receivable.
29-Jun Pay employees the $900 you owed them from June 16th.
30-Jun A utility bill of $400 for the current month is paid.
30-Jun Pay dividends of $600 to stockholders.
DATE ACCOUNT DEBIT CREDIT Assets = Liabilities + Equity
June 1st Cash $70,000 Increase
Notes Payable $70,000 Increase

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Retselisitsoe Pokothoane
Retselisitsoe PokothoaneLv10
28 Sep 2019

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