(Recording transactions using an accounting equation spreadsheet, LO 2) Set up an accounting equation spreadsheet and enter each of the following independent economic events into the spreadsheet:

a. A company pays $25,000 in wages to its employees.

b. A company buys a building and the vendor takes back a mortgage for the full price of $5,000,000.

. A company uses services costing $10,000. The company will pay in 30 days. . A partnership borrows $25,000 from the bank.

. A proprietorship repays a $10,000 bank loan plus $1,000 interest on the loan. A company borrows $10,000,000 from a bank and uses the money to buy a piece of land.

. A company pays a $5,000 deposit to a supplier who will provide maintenance on its equipment next year.

. A company receives a $3,000 deposit from a customer for services that will be provided next year.