Business
Business, 03.07.2020 20:01, noahrdavila1978

Selected transactions for Cheyenne Corp. during its first month in business are presented below. Sept. 1 Issued common stock in exchange for $18,500 cash received from investors.
5 Purchased equipment for $8,740, paying $2,760 in cash and the balance on account.
8 Performed services on account for $18,000. 14 Paid salaries of $1,200.
25 Paid $3,120 cash on balance owed for equipment.
30 Paid $860 cash dividend.

Required:
a. Prepare a tabular analysis of the September transactions.
b. Journalize the transactions.
c. Post the transactions to T-accounts.

answer
Answers: 2

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Selected transactions for Cheyenne Corp. during its first month in business are presented below. Se...

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