Homework Answers
| Solution: | |||
| Date | Accounts and explanation | Debit | Credit |
| Dec 1. | Cash | 52000 | |
| Common stock | 52000 | ||
| (Contribution to business in exchange of common stock) | |||
| Dec 1. | Equipment | 13200 | |
| Cash | 13200 | ||
| (Purchased equipment with cash) |
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