Demo_for_Chapter_2 - Demo Problem for Chapter 2

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Demo Problem for Chapter 2 On April 1, 2003, three ambitious college students started  Terrific Lawn Maintenance Corporation. A summary of  transactions completed through April 30, 2003, for Terrific  Lawn Maintenance Corporation follows: (a ) Issued 500 shares of stock (1,500 shares in total) to each of the  three investors in exchange for $9,000 cash. (b ) Acquired rakes and other hand tools (equipment) with a list price  of $690 for $600; paid the hardware store $200 cash and signed  a note for the balance. (c) Ordered three lawn mowers and two edgers from XYZ Lawn  Supply, Inc., for $4,000. (d ) Purchased 4 acres of land for the future site of a storage garage.  Paid cash, $5,000. (e ) Received the mowers and edgers that had been ordered,  signing a note to pay XYZ Lawn Supply in full in 30 days. (f) Sold for $1,250 one acre of land to the city for a park. Accepted  a note from the city for payment by the end of the month.
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Demo_for_Chapter_2 - Demo Problem for Chapter 2

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