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Silva Company had the following transactions:




Silva Company had the following transactions;1. Purchased a new building, paying $20,000 cash and issuing a note for $50,000.;2. Purchased $15,000 of inventory on account.;3. Sold inventory costing $5,000 for $6,000 on account.;4. Paid for inventory purchased on account (item 2).;5. Issued capital stock for $25,000.;6. Collected $4,500 of accounts receivable.;7. Paid utility bills totaling $360.;8. Sold old building for $27,000, receiving $10,000 cash and a $17,000 note (no gain or loss;on the sale).;9. Paid $2,000 cash dividends to stockholders.;Record the above transactions in general journal format. (Omit explanations.)


Paper#25579 | Written in 18-Jul-2015

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