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1. John Delivery Service is owned and operated by John. The following selected transactions were completed by John Delivery Service during March. Indicate the effect
1. John Delivery Service is owned and operated by John. The following selected transactions were completed by John Delivery Service during March. Indicate the effect of each transaction on the accounting equation elements (Assets, Liabilities, Owner's Equity, Revenue, and Expense) by listing the numbers identifying the transactions, (A) through (E). Also, indicate the specific item within the accounting equation element that is affected. A. Received supplies inventory from owner as additional investment, $20,000 B. Received cash from customers on account, $16,680. C. Paid cash for equipment bought last month, $12,800. D. Sold merchandise on account, $150,000 E. Customers pay $5,000 they owe the company (15 percent)
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