A group of friends establish a firm that buys and sells electro-domestic appliances and name it MediaMas, S.A. These are the initial transactions of the firm: 1.- In order to begin their commercial activities, the partners invest in the business 20.000€ in cash. 2.- MediaMas aquires three Plasma Samsung TVs , model XXT, at the price of 800€ for each. They pay the two in cash and will pay the third one in two months. 3.- MediaMas sells one of the three TVs for the price of 1.500€ and receives cash for it. 4.- Alter two months the company pays the remaining debt to the TV supplier. 5.- The company sells another TV for 1.000€. The client will pay in three months. 6.- After three months the client pays his/her debt in cash. 7.- The third TV that was about to be sold for 1.000€ was stolen from the warehouse. MediaMas reported the theft to the local police station and was advised that thefts where common in the area and that they will probably will not get it back. REQUIRED (Use the answer forms provided by the lecturer): 1. Analyze the preceding transactions in terms of their effects on the

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1 Analyze the preceding transactions in terms of their effects on the Assets Liabilities and Equity ... View the full answer