George Littlechild started a new kitchen and bath design business called Littlechild Enterprises. The following...
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George Littlechild started a new kitchen and bath design business called Littlechild Enterprises. The following activities occurred during its first month of operations, March 2023: Littlechild invested $240,000 cash and office equipment valued at $36,000 in the business. Purchased a small building for $760,000 to be used as an office. Paid $180,000 in cash and signed a note payable promising to pay the balance over several years. Purchased $4,600 of office supplies for cash. Purchased $88,000 of office equipment on credit. Littlechild made reservations at a hotel hosting a kitchen and bath design conference in August 2023. He will send a $2,600 deposit on July 1, 2023. Completed a project on credit and billed the client $6,800 for
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