Date Account Titles and Explanation Selected transactions for Crane Corporation during its first month in business are presented below. Sept. 1 Issued common stock in exchange for $20,200 cash received from investors. 5 Purchased equipment for $8,580, paying $3,810 in cash and the balance on account. 8 Performed services on account for $19,200. 14 Paid salaries of $2,400. 25 Paid $3,150 cash on balance owed for equipment. 30 Paid $800 cash dividend. Sept.8. Accounts Receivable
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