Reference no: EM132609885
Question - Perez Company had the following transactions during January:
1. Jan 1 Issued $100,000 in stock to owners in exchange for cash to start the business.
2. Jan 5 Borrowed $50,000 from the bank by signing a notes payable.
3. Jan 10 Purchase equipment by paying cash for $25,000.
3. Jan 15 Paid January rent of $2,400 for the office space (hint: since this is for January, record as rent expense)
4. Jan 18 Performed services for customers and received cash immediately for $8,000.
5. Jan 20 Purchased $2,000 in supplies on account.
Prepare transaction analysis for the January transactions. Remember to prove the accounting equation at the end.
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