During 2025, its first year of operations as a delivery service, Persimmon Corp. entered into the following transactions.

1. Issued shares of common stock to investors in exchange for $100,000 in cash.2. Borrowed $45,000 by issuing bonds.3. Purchased delivery trucks for $60,000 cash.4. Received $16,000 from customers for services performed.5. Purchased supplies for $4,700 on account.6. Paid rent of $5,200.7. Performed services on account for $10,000.8. Paid salaries of $28,000.9. Paid a dividend of $11,000 to stockholders.

InstructionsUsing the following tabular analysis, show the effect of each transaction on the accounting equation. Put explanations for changes to Stockholders’ Equity in the right-hand margin. Use Illustration 3.4 as a model.

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Assets Accounts Equip- Cash + Receivable + Supplies + ment = Liabilities Accounts Payable + Bonds + Payable + Stockholders' Equity Retained Earnings Common Stock + Revenues Expenses Dividends