Using the data from short exercise E2-15A, prepare journal entries and post your transaction analysis to the appropriate \(\mathrm{T}\)-accounts.

Exercise E2-15A

During the year, the Riley Company experienced the following accounting transactions:

1. Purchased equipment with cash in the amount of \(\$ 165,000\).

2. Purchased supplies on account in the amount of \(\$ 15,000\).

3. Collected \(\$ 19,500\) cash from customers.

4. Paid a cash dividend of \(\$ 11,000\).

Using the accounting equation, record each of the transactions in columnar format using the following template:

Transcribed Image Text:

Assets = Liabilities + Stockholders' Equity Cash + Accounts Receivable Accounts + Supplies + Equipment = Retained Earnings Payable