Question: I need help with chapter one question in introduction to financial accounting 11 th edition by Horngren. The balances of each item in Melbourne Companys

I need help with chapter one question in introduction to financial accounting 11 th edition by Horngren.

The balances of each item in Melbourne Companys accounting equation are given next for November 1 and for each of the next 7 business days.

Cash

Computer Inventory

Store Fixtures

Accounts Payable

Owners' Equity

Nov. 1

$5,000

$ 8,000

$ 7,500

$5,500

$15,000

2

5,000

8,000

10,000

8,000

15,000

3

3,000

8,000

10,000

8,000

13,000

4

3,000

3,000

10,000

3,000

13,000

5

3,000

10,000

10,000

3,000

20,000

8

2,500

10,000

10,000

2,500

20,000

9

1,500

10,000

13,500

5,000

20,000

10

1,500

10,000

13,000

4,500

20,000

State briefly what you think took place on each of the 7 days beginning November 2, assuming that only one transaction occurred each day.

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