Complete?M2-7,?and?then prepare a trial balance for Dennen Inc. as of January?31,?2018.

M2-4

For each of the following transactions of Dennen Inc. for the month of January 2018, indicate the accounts, amounts, and direction of the effects on the accounting equation. A sample is provided.a. (Sample)?Borrowed?$30,000?from a?local?bank.b.?Lent?$10,000?to an affiliate; accepted a note due in one year.c.?Sold?100?additional?shares to investors for?$500?cash.d. Purchased $15,000 of equipment, paying $5,000 cash and signing a note for the rest due in one year.e.?Declared?and paid?$2,000?in?dividends?to shareholders.

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Shareholders' Equity Assets Liabilities Notes payable a. Sample: Cash 130,000 130,000