#1. For each of the following independent cases: a) Record the transaction using the accounting equation. Be specific about account names & $ amounts. b) Indicate the effect of each transaction on the Statement of Cash Flow (SCF). Specify which section(s) of the SCF the transaction affects and in what direction. If there is no effect on the SCF, write "no effect". 1. Sold merchandize for $65,000. The customer paid $21,000 and promised to pay the remainder in 2 months. The Cost of merchandize sold was $48,000. Accounting Equation Statement of Cash Flow 2. Borrowed $200,000 from the bank and signed a 12-month 5% note payable. Accounting Equation Statement of Cash Flow 3. Paid suppliers a total of $12,000 for purchases that were made on account last month Accounting Equation Statement of Cash Flow 4. Recognized & recorded $9,000 of amortization expense on patent Accounting Equation Statement of Cash Flow