Acalyzing Transsctions Using the Finheial Statement Eifects Temptase Following are selected transactions of Mogs Compary Record the effects of each usrg the financas staremens effects termplate. 1. Shareholders contribute $7.500 cash to the business in exchange for common stock 2. Employees earn 3375 in woges that have not been patd at perigd end 1. impentary of 37,250 is purchased on credt. 4. The irwentory purchased in transaction 3 is sold for 53,375 on credit. 5. The cornpuny collected the 53,375 owed to it per transaction 4 6. Equipment is putchssed for $3,750 cash 7. Depreciation of $750 is recorded on the equipment trom trarsaction 6 . 4. The Supplies account had a $3,000 bolance at the beginneng of thes periodi a physical count at pericd-end shows that s500 of supplies are scili avalable. ho supplies were purchased during this period. 9. The company paid s7,500 cash toward the principal on a note pyyabie; aso, s775 cash 15 pad to cover this notes interest expense for the pensd. 10. The company receces $6,000 cash in atvance for servicesto be deinered next periot. Use regatwe signs with your answers when appropriate Acalyzing Transsctions Using the Finheial Statement Eifects Temptase Following are selected transactions of Mogs Compary Record the effects of each usrg the financas staremens effects termplate. 1. Shareholders contribute $7.500 cash to the business in exchange for common stock 2. Employees earn 3375 in woges that have not been patd at perigd end 1. impentary of 37,250 is purchased on credt. 4. The irwentory purchased in transaction 3 is sold for 53,375 on credit. 5. The cornpuny collected the 53,375 owed to it per transaction 4 6. Equipment is putchssed for $3,750 cash 7. Depreciation of $750 is recorded on the equipment trom trarsaction 6 . 4. The Supplies account had a $3,000 bolance at the beginneng of thes periodi a physical count at pericd-end shows that s500 of supplies are scili avalable. ho supplies were purchased during this period. 9. The company paid s7,500 cash toward the principal on a note pyyabie; aso, s775 cash 15 pad to cover this notes interest expense for the pensd. 10. The company receces $6,000 cash in atvance for servicesto be deinered next periot. Use regatwe signs with your answers when appropriate