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Journalizing TransactionsPrepare in good form the

Journalizing TransactionsPrepare in good form the journal entry to record each of the following transactions on the booksof ABC.January 10, 2007: ABC is incorporated by issuing $50,000 of common stock to each of the threeowners.January 12, 2007: ABC borrows $100,000 at the local bank.January 15, 2007: ABC pays $200,000 cash to buy 10 acres of land.

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