Show the effects of the above transactions in a horizontal statements model like the one shown below.

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Show the effects of the above transactions in a horizontal statements model like the one shown below.
  • Show the effects of the above transactions in a horizontal statements model like the one shown below.

  • Answers • 4 pages • 2020
  • The following transactions apply to Baker Co. for 2010, its first year of operations. 1.Issued $190,000 of common stock for cash. 2.Provided $98,000 of services on account. 3.Collected $88,000 cash from accounts receivable. 4.Loaned $9,000 to BBC on September 1, 2010. The note had a one-year term to maturity and an 8 percent interest rate. 5.Paid $38,000 of salaries expense for the year. 6.Paid a $3,000 dividend to the stockholders. 7.Recorded the accrued interest on December 31, 2010 (se...
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