Posted: September 23rd, 2016

Pair Company began operations on January 1, 2007. During 2007, the company engaged in the following cash transactions:

Pair Company began operations on January 1, 2007. During 2007, the company engaged in the following cash transactions:
1) issued stock for $30,000
2) borrowed $23,000 from its bank
3) sold merchandise for $28,000
4) paid back $10,000 of the bank loan
5) paid rent expense for $2,000
6) purchased equipment costing ,000
7) paid $3,000 dividends to stockholders
8) paid employees’ salaries, $11,000