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    ab09088's Avatar
    ab09088 Posts: 1, Reputation: 1
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    #1

    Apr 13, 2016, 07:16 PM
    How to do a journal entry
    June 1: Byte of Accounting, Inc. issued 2,680 shares of its common stock to Jeremy after $31,360 in cash and computer equipment with a fair market value of $43,680 were received.
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
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    #2

    Apr 17, 2016, 05:49 PM
    The elements of this Are Issued Common Stock; of which we don't know the nominal value and therefore cannot calculate a premium or discount if one exists but the total is $75,040, and Cash and Equipment. The capital side of the equation is a Credit, the Assets a Debit
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