Pelligrini Electronics, Corp., was recently formed as a corporation. The balance of each item in the company’s accounting equation is shown for November 1 and for each of the following business days:

Requirement 

1. A single transaction took place on each day. Briefly describe the transaction that most likely occurred on each day, beginning with November 4. Indicate which accounts were increased or decreased and by what amounts. Assume that no revenue or expense transactions occurred during the month.

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Cash Accounts receivable Accounts Common Retained Supplies Land payable stock earnings Nov 1 $2,000 $7,000 $ 800 $11,000 $3,800 10,000 $7,000 4 6,000 7,000 800 11,000 3,800 14,000 7,000 9 3,000 7,000 800 14,000 3,800 14,000 7,000 13 3,000 7,000 900 14,000 3,900 14,000 7,000 16 1,400 7,000 900 14,000 2,300 14,000 7,000 19 2,500 5,900 900 14,000 2,300 14,000 7,000 22 10,500 5,900 900 14,000 2,300 22,000 7,000 25 10,000 5,900 900 14,000 1,800 22,000 7,000 27 9,300 5,900 1,600 14,000 1,800 22,000 7,000 30 3,400 5,900 1,600 14,000 1,800 22,000 1,100