Can you help me with the following assignment?
The following transactions are for the Burdette Construction Company:
a. The firm bought equipment for $49,000 on credit.
c. The firm paid $33,000 it owed to its suppliers.
d. The firm arranged for a $125,000 line of credit (the right to borrow funds as needed) from the bank. No funds have yet been borrowed.
e. The firm sold some of its products for $29,000?$14,000 for cash, the remainder on account.
f. Cost of sales in (e) are $17,000.
g. The firm borrowed $78,000 on its line of credit.
h. The firm issued a $7,500 cash dividend to its stockholders.
i. An investor invested an additional $50,000 in the company in exchange for additional capital stock.
j. One of the primary investors borrowed $75,000 from a bank. The loan is a personal loan.
k. The firm repaid $13,000 of its line of credit.
l. The firm received a $500 deposit from a customer for a product to be sold and delivered to that customer next month.
Analyze and record the transactions as journal entries. (Omit explanations)© BrainMass Inc. brainmass.com June 3, 2020, 7:06 pm ad1c9bdddf
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