1. Adams company completed the following transactions during March (a.) Purchased inventory on open account, $28.000 (b.) Purchased $900 of supplies for cash (c.) Sold on open account for $35,000 merchandise (d.) Record the cost of the merchandise sold in c, cost was $23,000 (e.) Collected $30,000 from credit customers Using the form shown below, indicate the effect of each event on the assets, Wabilities, and owners equity of Adams Company. Use + or increases and - for decreases Event Assets Liabilities Owners' Equity +28,000 +28.000 Revenues Expenses B D D E