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Double entry transactions

1. Owner invested $10,000 in the company. 2. The company borrowed $20,000 from a bank. 3. The company purchased $12,000 equipment and paid in cash. 4. The company purchased $6,000 merchandise (600 units) on credit. 5. The company paid $3,500 salaries. 6. The company paid $1,500 rent. 7. Purchased merchandise and paid $2,000 in cash. 8. Purchased equipment and paid $15,000 in cash. 9. Repaid $7,000 of bank loans. 10. Paid $3,000 accounts payable. 11. Paid $3,500 rent expense. 12. Paid $6,000 salaries expense. 13. Sold equipment and received $8,600 in cash. 14. Borrowed $9,000 in cash. 15. Goods were returned for $25,000. 16. Purchased machinery for $7,000. 17. Bought furniture on credit for $5,000. 18. Sold goods for $6,000. 19. Paid $6,500 to the payables. 20. Goods taken away by the owner for his personal use of worth $8,000. 21. Two chairs and one table were stolen of worth $5,000. 22. Paid sundry trade expenses worth $6,000. 23. Started business by introducing machine valuing $2,000. 24. Paid insurance premium of $1,200. 25. Cash received from a receivable $5,000 and discount allowed was $1,000. 26. Cash paid to a payable $3,500 and discount received was 1,500. 27. Goods returned to the payables $2,000. 28. Paid salary to clerk $2,000. 29. Goods purchased on credit of $4,000. 30. Took bank loan of $5,000. 31. Paid tax expense of $6,500. 32. Drew cash for private expenses $500. 33. Paid for office stationary $300. 34. Goods sold on credit $6,000. 35. Goods sold on cash $2,300. 36. The company sold 500 units of merchandise at the price of $11,000. Customer paid $11,000 in cash at the time of sale.

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