On March 1, 2012, Mitch Quade established Mitch Realty, which completed the following transactions… 1 answer below »

On March 1, 2012, Mitch Quade established Mitch Realty, which completed the following transactions during the month: (a) Mitch Quade transferred cash from a personal bank account to an account to be used for the business in exchange for capital stock, $18,000. (b) Purchase supplies on account, $1,200. (c) Earned sales commission, receiving cash, $14,000. (d) Paid rent on office and equipment for the month, $2,800. (e) Paid creditor on account, $750. (f) Paid office salaries, $3,000.

 

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