Question: Amazon.com, Inc., headquartered in Seattle, WA, started its electronic commerce business in 1995 and expanded rapidly. The following transactions occurred during a recent year (dollars

Amazon.com, Inc., headquartered in Seattle, WA, started its electronic commerce business in 1995 and expanded rapidly. The following transactions occurred during a recent year (dollars in millions):

  1. Issued stock for $623 cash (example).
  2. Purchased equipment costing $6,320, paying $4,893 in cash and charging the rest on account.
  3. Paid $5,000 in principal and $300 in interest expense on long-term debt.
  4. Earned $177,866 in sales revenue; collected $123,949 in cash with the customers owing the rest on their Amazon credit card account.
  5. Incurred $25,249 in shipping expenses, all on credit.
  6. Paid $118,241 cash on accounts owed to suppliers.
  7. Incurred $10,069 in marketing expenses; paid cash.
  8. Collected $38,200 in cash from customers paying on their Amazon credit card account.
  9. Borrowed $16,231 in cash as long-term debt.
  10. Used inventory costing $111,934 when sold to customers.
  11. Paid $830 in income tax recorded as an expense in the prior year.

NEED HELP CORRECTING WHATS WRONG
 Amazon.com, Inc., headquartered in Seattle, WA, started its electronic commerce business

Answer is not complete. Income Statement Transaction Assets Balance Sheet Stockholders' Liabilities Equity 623 Revenues Expenses Net Income a b (1,427) 623 6,320 (4,893) (5,300) 123,949 53,917 300 x (300) 177,866 d 177,866 e (25,249) 25,249 25,249 118,241 f (10,069) OD 9 h (118,241) (10,069) 38,200 (38,200) 16,231 (111,934) (830) i 16,231 (111,934) i k (830)

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