Transactions for Mehta Company for the month of May are presented below.
May 1 B.D. Mehta invests $3,091 cash in exchange for common stock of Mehta Company, a small welding corporation.
3 Buys equipment on account for $1,153.
13 Pays $659 to landlord for May rent.
Prepare journal entries for each of these transactions.
When did financial information exhibits the characteristic of consistency?
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