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Search Authentic Pepper Pot S.. Most Visited @Getting Started Ashford -Student Login G ACC305: Intermediate Accounting I (BBE1821A) Natalie Springer-Stew Homework: ACC305 Week 2 Homework Chapters 4, 5, and 6 Score: 0 of 1 pt P4-3 (similar to) 5 of 18 (3 complete) Daniel and Sons' Law Offices opened on January 1, 2015. During the irst year of business, the company The chart of accounts used by Daniel and Sons' Law Offices is as f had the following transactions H EEB (Click the icon to view the chart of accounts) Read the requirements (Click the icon to view the transactions) Requirement a. Joumalize the transactions for the year. (Record debits first, then credits. Exclude explanations from any journal entries) January 2: The owners invested $550,000 (the par value of the stock) into the business and acquired 55,000 shares of common stock in return. January 2 550,000 Account Cash Choose from any list or enter any number in the input fields and then click Check Answer 1 parts

Explanation / Answer

Account Title and explanation Debit Credit Cash $5,50,000             To Daniel and Sons Capital $5,50,000 (To Record the introduction of share capital 55,000 shares of $ 10 Par value)

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