On June 20, 2015, Lucie Majeau Invested the Following Assets

question 36

Essay

On June 20, 2015, Lucie Majeau invested the following assets in a new sole proprietorship: cash, $12,000; office equipment, $6,000; land, $100,000;building, $115,000. Majeau owes the bank a $25,000 note payable that issecured by the land and building. Prepare the general journal entry to recordMajeau's investments in the new business.

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Definitions:

Long-chain Alkanes

Hydrocarbons that consist of a long sequence of carbon atoms bonded together with hydrogen atoms, used in various fuel and lubricant applications.

Reaction Process

The series of steps that lead to the conversion of reactants into products during a chemical reaction, including all intermediate forms and mechanisms.

Cyclopentane

A cyclic alkane with the formula C5H10, characterized by a ring of five carbon atoms.

Boiling Point

The temperature at which a substance changes from a liquid to a gas.