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  3. (for #8) given= two entries, only two lines each.

(for #8) GIVEN= two entries, only TWO LINES each. 4 Dec. 1 Sell...

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Accounting

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(for #8) GIVEN= two entries, only TWO LINES each.
4 Dec. 1 Sell 16,000 shares of no-par value common stock for $6 per share to obtain the funds necessary to start your business. Dec. 1 Purchase 400 units of inventory on account with terms 3/10 net 30. 6 Dec. 1 Purchase a vehicle necessary for business operations for $21,000 cash. The vehicle has a five year life with a residual value of $3,000. Dec. 1 Pay $6,000 for one year of insurance in advance. Sell 200 units of inventory to a customer who signs a 6-month promissory note at 6% with interest and principal due at maturity. perpetual method=2 entries Dec. 3

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