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Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:EA1. LO 14.1You are an accountant working for a company that has recently decided to
incorporate. The company has incurred $4,300 for attorney's fees, promotion costs, and filing
fees with the state of incorporation as a part of organizing the corporate entity. What is the
journal entry to record these costs on March 13, assuming they are paid in cash?
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