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Record the Following Transactions in the Financial Statements Effects Template

Question 21

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Record the following transactions in the financial statements effects template below.
a) Founder contributes $44,000 in cash in exchange for common stock.
b) Obtain $26,000 short-term bank loan.
c) Purchase equipment costing $24,000 for cash.
d) Purchase inventory costing $14,000 on account.
Record the following transactions in the financial statements effects template below. a) Founder contributes $44,000 in cash in exchange for common stock. b) Obtain $26,000 short-term bank loan. c) Purchase equipment costing $24,000 for cash. d) Purchase inventory costing $14,000 on account.

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