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FI504 Case Study 1 - The Complete Accounting Cycle

FI504 Case Study 1 - The Complete Accounting Cycle - During...

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During its first month of operation, the Parkview Landscaping Corporation, which specializes in residential lan completed the following transactions: July 1 Began business by making a deposit in a company bank account of $24,000, in exchange for 4,800 shares of $5 par value common stock. July 1 Paid the premium on a one-year insurance policy, $2,400. July 1 Paid the current month's rent, $2,080. July 3 Purchased landscaping equipment from Brookwood Company, $8,800. Paid $1,200 down and the placed on account. Payments will be $400.00 per month for nineteen months. The first payment i
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