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Business, 13.02.2020 22:19 kidzay

On April 1, Larkspur, Inc. began operations. The following transactions were completed during the month. 1. Issued common stock for $18,200 cash. 2. Obtained a bank loan for $5,300 by issuing a note payable. 3. Paid $8,400 cash to buy equipment. 4. Paid $900 cash for April office rent. 5. Paid $1,100 for supplies. 6. Purchased $460 of advertising in the Daily Herald, on account. 7. Performed services for $13,700: cash of $1,520 was received from customers, and the balance of $12,180 was billed to customers on account. . Paid $300 cash dividend to stockholders. 9. Paid the utility bill for the month, $1,520. 10. Paid Daily Herald the amount due in transaction (6). 11. Paid $30 of interest on the bank loan obtained in transaction (2). 12. Paid employees’ salaries, $4,860. 13. Received $9,120 cash from customers billed in transaction (7). 14. Paid income tax, $1,140.'Journalize the transactions. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

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