Analyze each transaction below by showing its effects on the accounting equation: specifically, identify the accounts...

 

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Analyze each transaction below by showing its effects on the accounting equation: specifically, identify the accounts and amounts (including + or -) for each transaction. May 1 The company provided $4,100 of consulting services on credit to a customer. May 3 The company purchased $700 of supplies on credit. May 9 The company collected $1,100 cash as partial payment toward the May 1 consulting revenue. May 20 The company paid $700 cash toward the payable of May 3. May 31 The company paid $300 cash for this month's utilities. Note: Enter all amounts as positive values. Date May 1 May 3 May 9 May 20 May 31 Assets = = Liabilities Equity Analyze each transaction below by showing its effects on the accounting equation: specifically, identify the accounts and amounts (including + or -) for each transaction. May 1 The company provided $4,100 of consulting services on credit to a customer. May 3 The company purchased $700 of supplies on credit. May 9 The company collected $1,100 cash as partial payment toward the May 1 consulting revenue. May 20 The company paid $700 cash toward the payable of May 3. May 31 The company paid $300 cash for this month's utilities. Note: Enter all amounts as positive values. Date May 1 May 3 May 9 May 20 May 31 Assets = = Liabilities Equity

Answer rating: 100% (QA)

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