$3E2-26B.(Learning$ Objective $3$: Analyzing transactions$)$ The following selected events were

experienced $by$ either Astar Electronics, Inc., a corporation, $or$ Sydney Brown, the major

shareholder. State whether each event $(1)$ increased, $(2)$ decreased, $or(3)$ had $no$ effect $on$ the

total assets $of$ the business. Identify any specific asset affected.

$a.$ Received $12,000$ cash and issued shares $to$ a shareholder.

$b.$ Purchased equipment for $59,000$ cash.

$c.$ Paid $12,000$ cash $on$ accounts payable.

$d.$ Brown used personal funds $to$ purchase a flat screen $TV$ for his home.

$e.$ Purchased land for a building site and signed $a85,000$ promissory note $to$ the bank.

$f.$ Received $14,000$ cash from customers for services performed.

$g.$ Sold land and received a note receivable $of42,00042,00035,000in$ revenue for services performed. The customer promises $to$ pay Astar

Electronics $in$ one month.

$i.$ Purchased supplies $on$ account for $4,500.$

$j.$ The business paid Gallagher a cash dividend $of5,000.$