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Prepare in good form journal entry to record transactions

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Question - Prepare in good form the journal entry to record each of the following transactions on the books of ABC.

Jan 10, 2009: ABC is incorporated by issuing $50,000 of common stock to each of the three owners.

Jan 12, 2009: ABC borrows $100,000 at the local bank.

Jan 15, 2009: ABC pays $200,000 cash to buy ten acres of land.

Reference no: EM131753193

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