Record each of the following Cummings Co. events in T-accounts and then explain how the event affects
Question:
Record each of the following Cummings Co. events in T-accounts and then explain how the event affects the accounting equation.
a. Received \(\$ 20,000\) cash by issuing common stock.
b. Purchased supplies for \(\$ 900\) cash.
c. Performed services on account for \(\$ 7,000\).
d. Paid cash for \(\$ 4,000\) of salaries expense.
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