Business, 21.01.2021 21:40 ggperez68

Pharoah Company was started on May 1. A summary of May transactions is presented as follows. 1. Stockholders invested $24,500 cash in the business in exchange for common stock. 2. Purchased equipment for $4,500 cash. 3. Paid $200 cash for May office rent. 4. Paid $600 cash for supplies. 5. Incurred $350 of advertising costs in the Beacon News on account. 6. Received $4,900 in cash from customers for repair service. 7. Declared and paid a $1,000 cash dividend.

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Pharoah Company was started on May 1. A summary of May transactions is presented as follows. 1. Stoc...

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