The Journal entry is attached
what is journal entries?
This is a term used in accounting to refer to tables built to show the accounting details showing debits and credits
Complete question
E2-7 Recording Journal Entries [LO 2-3, LO 2-5]
NIKE, Inc., with headquarters in Beaverton, Oregon, is one of the world's leading manufacturers of athletic shoes and sports apparel The following activities occurred during a recent year. The dollar amounts in (a) and (b) ere presented "in millions," and the dollar amount in (dis per share. When reporting amounts "in millions," exclude the 000.000
a Purchased $216 in equipment paid by signing a $5 long-term note and fulfilling the rest with cash bissued $21 in additional common stock for cash contributions made by stockholders. c. Several NIKE investors sold their own stock to other investors on the stock exchange for $110 per share of stock
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Required:
1. For each of the events above, prepare journal entries. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in millions (ie, 10,000,000 should be entered
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