You 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?
You 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?
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:You 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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