XAC Received a Share Subscription from J

question 12

Essay

XAC received a share subscription from J.Doe for 100 of its common shares, issue price $15; one-third cash down payment.Provide the entry to record the subscription and partial payment.

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Definitions:

Stimulants

A class of drugs that increase brain activity, leading to increased alertness, attention, and energy.

Dopamine

A neurotransmitter involved in many functions, including mood regulation, motivation, and reward.

Gastric Acid

A digestive fluid formed in the stomach, consisting mainly of hydrochloric acid and enzymes that break down food particles.

Neurotransmitter

Chemical messengers released from neurons to transmit signals across synapses to other neurons or cells.