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Question 1
On January 1, 2016, Mr. Bravo formed a new corporate (Bravo
Unlimited) by investing $12,000 cash in capital stock. Prepare
the general journal entry (without explanation) needed. If no
entry is required then write "No Entry Required."
Date ACCOUNT DEBIT CREDIT
Question 2
On January 5, 2016, Charlie Company purchased equipment on
account for $25,000. The equipment was purchased for $6,000