For the following transaction,provide all of the required journal entries from inception to liquidation.Assume a December 31 year end and that the company does not prepare interim statements.Round all amounts to nearest dollar.
Definitions:
Capitalism
An economic system where trade, industries, and the means of production are largely or entirely privately owned and operated for profit, with minimal or no government control.
Protestantism
A branch of Christianity that originated with the Reformation, a movement against what its followers perceived to be errors in the Roman Catholic Church.
Family Disruption
Events or situations causing significant change or interruption in the structure or functioning of a family unit.
Divorce
The legal dissolution of a marriage by a court or other competent body, terminating the marital union and resolving issues of alimony, child custody, and division of property.
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