Using the information given in E4- 1, prepare the journal entry for each transaction for Miller Manufacturing.
E4-1
a. Bought office equipment with cash, $ 30,000.
b. Bought supplies on credit from a vendor, $ 15,000.
c. Sold goods for cash, $ 40,000 (ignore the inventory and cost of goods sold entry of this transaction).
d. Bought raw materials from a supplier on account, $ 22,000.
e. Sold goods to customers on account, $ 65,000 (ignore the inventory and cost of goods sold entry of this transaction).
f. Purchased raw materials by issuing a note payable, $ 14,000.
g. Paid cash toward note payable balance, $ 4,000.
h. Received cash from customer to apply to credit account balance, $ 3,000.
i. Paid for accounting and legal fees in cash, $ 5,000.
j. Paid salaries in cash, $ 12,000. Show the effect of each transaction on assets, liabilities, and equity using the accounting equation.