Reference no: EM13953293
Urgent help on accounting homework please?
Prepare the necessary journal entries for each of the transactions presented below for the Salisbury Company.
a. Salisbury Company sold 2,000 shares of common stock at $25 per share in cash.
b. The company purchased equipment for $8,000, paying $2,000 in cash and the remainder in a note.
c. The company paid the current month's rent, which amounted to $700, and the current month's utilities, which amounted to $300.
d. Merchandise inventory costing $2,500 was sold on account for $4,800.
e. Depreciation on the equipment amounted to $900.
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: Prepare the necessary journal entries for each of the transactions presented below for the Salisbury Company
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