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OpenStudy (anonymous):
Cody Macedo established an insurance agency on January 1 of the current year and completed the following transactions during January:Opened a business bank deposit of $75,000 in exchange for capital stock, Purchased supplies$3,000, Paid creditors for account payable, $1,000, Received cash from Revenue earned on insurance commissions, $11,800 and Paid rent on office and equipment for the month, $4,00
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