Rawlco Communications operates 15 radio stations. The following events occurred during September.
a. Placed an order for office supplies costing $3,000. Supplier intends to deliver later in the month.
b. Purchased equipment that cost $35,000; paid $15,000 cash and signed a promissory note to pay $20,000 in one month.
c. Negotiated and signed a one-year bank loan. and then deposited $6,000 cash in the company checking account.
d. Hired a new finance manager on the last day of the month.
e. Received an investment of $12,000 cash from the company's owners in exchange for issuing common shares.
f. Supplies (ordered in were received. along with a bill for $1,900.
Required:
Prepare journal entries to record each transaction.
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Rawlco Communications operates 15 radio stations. The following events occurred during September.
a...
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