During December, Cynthiana Refrigeration Service engaged in the following transactions: a. On December 3, Cynthiana sold a

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During December, Cynthiana Refrigeration Service engaged in the following transactions:
a. On December 3, Cynthiana sold a one-year service contract to Cub Foods for $8,000 cash.
b. On December 10, Cynthiana repaired equipment of the A&W Root Beer Drive-In.
A & W paid $800 in cash for the service call.
c. On December 10, Cynthiana purchased a new GMC truck for business use. The truck cost $16,500. Cynthiana paid $2,500 down and signed a one-year note for the balance.
d. Cynthiana received an $8,000 order of repair parts from Carrier Corporation on December 19. Carrier is expected to submit a bill for $8,000 in early January.
e. On December 23, Cynthiana purchased 20 turkeys from Cub Foods for $280 cash.
Cynthiana gave the turkeys to its employees as a Christmas gift.

Required:
For each transaction described above, indicate the effects on assets, liabilities, and stockholders' equity using the formatbelow.
During December, Cynthiana Refrigeration Service engaged in the
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A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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