1. identify all accounts necessary to record the transaction properly.

2. Identify the total dollar impact of the transaction on total assets, total liabilities, total stockholders' equity, total revenues and total expenses.

3. Teresa Company signs a rental agreement with Mike's Rentals to rent equipment for the upcoming year. At the signing of the rental Teresa Company paid a $15,000, which reflects the fist three month rental. Determine the accounts and transaction analysis from the perspective of Mike's Rentals. accounts: Assets Liabilities Stockholders' Equity Revenues Expenses