Question

Transactions Prepare a table to summarize the following transactions as they affect the accounting equation. 1. Services provided on account of $1,530 2. Purchases of supplies on account for $1,365 3. Services provided for cash of $750 4. Purchase of equipment for cash of $4,240 5. Issuance of a promissory note for $2,500 6. Collections on account for $890 7. Sale of capital stock in exchange for a parcel of land: the land is appraised at s50,000 8. Payment of $4,000 in salaries and wages 9. Payment of open account in the amount of $500 If an account is unaffected by a transaction, enter o. Use the minus sign to indicate decreases or negative balances. Accounts Receivable Equipment Land Supplies Bal.