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State a reason if is not an accounting transaction

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Question1 : Which of the following events listed below results in an accounting transaction for Clothing Ltd? State a reason if it is not an accounting transaction.

  1. The founder of Clothing Ltd., who is also a major shareholder, purchased additional stock in another company.
  2. Clothing Ltd borrowed $230,000 from a local bank
  3. Clothing Ltd purchased a sewing machine, which it paid for by signing a note payable
  4. Clothing Ltd issued 10,000 shares to a private investor, who is also a car business owner, in return for a new delivery truck
  5. Two investors in Clothing Ltd sold their stock to another investor
  6. Clothing Ltd ordered some fabric to be delivered next week
  7. Clothing Ltd lent $250,000 to a member of the board of directors

Reference no: EM132508447

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