Question: The following T-accounts reflect seven different transactions that Rodman Container Company entered into during 2012: REQUIRED:For each transaction, describe what occurred and how it affected

The following T-accounts reflect seven different transactions that Rodman Container Company entered into during 2012:

REQUIRED:For each transaction, describe what occurred and how it affected the accounting equation.

Equipment () 5.000 (d) 50,000 Accounts Receivable Cash 7,000 (c) 2.000 (a) 21,000 (a) 5,000 (d) 20.000 (g) 25,000 (e) 1.200 Accounts Payable Notes Payable (d) 30,000 Inventory 6,000 (b) 6,000 (b) 2,000 (c) Rent Expense Common Stock Sales Revenue (a) 28.000 (e) 1,200 (g) 25.000

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a Sold services worth 28000 received 7000 cash and an account receivable for the balance of 210... View full answer

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