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1. Kate Browne engaged in the following activities in establishing her salon, Hair It Is:

1. Opened a bank account in the name of Hair It Is and deposited $20,000 of her own money in this account as her initial investment.

2. Purchased equipment on account (to be paid in 30 days) for a total cost of $4,800.

3. Interviewed three persons for the position of hair stylist. In what form (type of record) should Kate record these three activities? Prepare
the entries to record the transactions.

Reference no: EM13511776

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