Identifying Events as Accounting Transactions
For each of the following events, which ones result in an exchange transaction for Dittman Company (Y for yes and N for no)?
_____ (1) Dittman Company purchased a machine that it paid for by signing a note payable.
_____ (2) The founding owner, Megan Dittman, purchased additional stock in another company.
_____ (3) The company borrowed $1,000,000 from a local bank.
_____ (4) Six investors in Dittman Company sold their stock to another investor.
_____ (5) The company lent $150,000 to a member of the board of directors.
_____ (6) Dittman Company ordered supplies from Staples to be delivered next week.