Journal Entries and The Accounting Equation 1) For the following items, determine the effect of each item on the accounting equation (A = L + E) and record the appropriate journal entries for the following transactions: a. Issued common stock for $20,000 cash. b. Purchased building for $200,000 cash and a $150,000 note.
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Home » Business » Journal Entries and The Accounting Equation 1) For the following items, determine the effect of each item on the accounting equation (A = L + E) and record the appropriate journal entries for the following transactions: a.