(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 car is purchased for $25,000 cash.

. A car is purchased for $15,000 cash and $10,000 financed through the dealer.

. A corporation sells shares to investors for $100,000.

. A corporation pays dividends to shareholders of $1,000,000.

A corporation declares dividends of $1,000,000. The dividends will be paid in 30 days.

A corporation pays $1,000,000 of dividends that were previously declared. g. A company sells goods to a customer for $300 cash. The goods cost $200. (Hint: the company records the reduction in inventory and cost of sales at the time the sale is recorded.)

h. A company sells goods to a customer for $300 cash. The goods cost $200. The customer promises to pay in 30 days. (Hint: the company records the reduction in inventory and cost of sales at the time the sale is recorded.)

i. A company collects $1,000 that is due from a customer.