Record the following selected transactions in general journal form for Sun Orthopedic Clinic, Inc.Include a brief explanation of the transaction as part of each journal entry.Oct. 1 The clinic issued 4,000 additional shares of capital stock to Doctor Soges at $50 pershare.Oct. 4 The clinic purchased diagnostic equipment. The equipment cost $75,000, of which$25,000 was paid in cash; a note payable was issued for the balance.
Record the following selected transactions in general journal form for Sun Orthopedic Clinic, Inc.Include a brief explanation of the transaction as part of each journal entry.Oct. 1 The clinic issued 4,000 additional shares of capital stock to Doctor Soges at $50 pershare.Oct. 4 The clinic purchased diagnostic equipment. The equipment cost $75,000, of which$25,000 was paid in cash; a note payable was issued for the balance.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Record the following selected transactions in general journal form for Sun Orthopedic Clinic, Inc.
Include a brief explanation of the transaction as part of each journal entry.
Oct. 1 The clinic issued 4,000 additional shares of capital stock to Doctor Soges at $50 per
share.
Oct. 4 The clinic purchased diagnostic equipment. The equipment cost $75,000, of which
$25,000 was paid in cash; a note payable was issued for the balance.
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