Using the data from E2-15B,

(a) prepare journal entries 

(b) post your transactions to the appropriate T-accounts.

Exercise E2-15B

Recording Transactions with the Accounting Equation During the year, the Fletcher Company experienced the following accounting transactions:

1. Purchased equipment with cash in the amount of \(\$ 130,000\).

2. Purchased supplies on account in the amount of \(\$ 16,500\).

3. Collected \(\$ 37,000\) cash from customers.

4. Paid a cash dividend of \(\$ 17,000\).

Using the accounting equation, record each of the transactions in columnar format using the following template:

Assets = Liabilities Stockholders' Equity Cash + Accounts Receivable + Supplies + Equipment = Accounts Payable Retained Earnings