Journalizing Transactions Prepare in good form the journal entry to record each of the following… 1 answer below »
Journalizing Transactions
Prepare in good form the journal entry to record each of the following transactions on the books
of ABC.
January 10, 2007: ABC is incorporated by issuing $50,000 of common stock to each of the three
owners.
January 12, 2007: ABC borrows $100,000 at the local bank.
January 15, 2007: ABC pays $200,000 cash to buy 10 acres of land.
