For each of the following transactions of Dennen, Inc., for the month of January 2015, indicate the accounts, amounts, and direction of the effects on the accounting equation. A sample is provided.
a. (Sample) Borrowed $30,000 from a local bank.
b. Lent $10,000 to an affiliate; accepted a note due in one year.
c. Sold 100 additional shares of stock with a par value of $0.10 per share to investors for $500 cash.
d. Purchased $15,000 of equipment, paying $5,000 cash and signing a note for the rest due in one year.
e. Declared and paid $2,000 in dividends tostockholders.

  • CreatedJuly 01, 2014
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