Ali Furniture Business (AFB), starting from the owner’s investment of $100,000. Record the following transactions on general journal. Ali purchased land for Business for $35,000. Paid $20,000 cash. Balance will

Ali Furniture Business (AFB), starting from the owner’s investment of $100,000. Record the following transactions on general journal. Ali purchased land for Business for $35,000. Paid $20,000 cash. Balance will be paid as account payale. Purchased additional machinery for Business for $10,000 on cash. Purchased wood stock for $45,000, paid $35,000 cash and signed a note payable for balance. Obtained a lone from Supreme Bank in the amount of $50,000. Signed a note payable. Paid $15,000 Accounts payable and $30,000 of Note Payable.

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