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Business, 13.06.2020 04:57 princessa15266

he following transactions apply to Hooper Co. for Year 1, its first year of operations: Issued $150,000 of common stock for cash. Provided $98,000 of services on account. Collected $86,000 cash from accounts receivable. Loaned $11,000 to Mosby Co. on November 30, Year 1. The note had a one-year term to maturity and a 10 percent interest rate. Paid $36,000 of salaries expense for the year. Paid a $2,000 dividend to the stockholders. Recorded the accrued interest on December 31, Year 1 (see item 4). Determined that $740 of accounts receivable were uncollectible.

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he following transactions apply to Hooper Co. for Year 1, its first year of operations: Issued $150,...
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