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Waco company was started on january 1 2011 when it issued

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Waco Company was started on January 1, 2011 when it issued common stock for $15,000 cash. Also on January 1, 2011 the company purchased office equipment that cost $15,000 cash. The equipment was delivered under terms FOB shipping point, and transportation cost was $1,000. The equipment had a five year useful life and a $1,200 expected salvage value.

Reference no: EM13571846

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