Analyzing Transactions Using the Accounting Equation Dynamic Corporation completed the following transactions during the month of March. Indicate the effects on the accounting equation for each of the 10 transactions. Provide your answer in the format pro - Note: Use a negative sign with your answers to indicate a decrease. - Note: Select "N/A" as your answer if a part of the accounting equation is not affected. 1. Issued 60,000 shares of its own common stock for $600,000 cash. 2. Borrowed $300,000 cash in return for a 9%, one-year note payable. 3. Purchased equipment at a net cost of $300,000 cash. 4. Purchased inventory on account for $240,000. Assume that the company uses the perpetual inventory system. 5. Sold merchandise for $300,000 (that had cost $180,000 ); collected $210,000 cash, and the $90,000 balance is due in one month. Hint: Make entries for both sides of the transaction-one for sales one for cost of goods sold. 6. Paid $75,000 cash for operating expenses. 7. Paid for half of the merchandise previously purchased on account in transaction 4. 8. Collected 40% of the balance due on the sales in transaction 5 . 9. Paid $3,600 cash for an insurance premium for one year of coverage (debit prepaid insurance). 10. Paid $30,000 cash in legal fees for the month of March