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Question: cheyenne corp has the following transactions during august of the...

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Cheyenne Corp. has the following transactions during August of the current year. Aug. 1 Aug. 4 Aug. 16 Aug. 27 Issues shares of common stock to investors in exchange for $13,900. Pays insurance in advance for 3 months, $2,200. Receives $800 from clients for services rendered. Pays the secretary $670 salary. Indicate the basic analysis and the debit-credit analysis.

Credits Credit Debits Aug. 27 IS The expense Debit the asset Credits Credit

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