1. S. Penman contributed $60,000 cash to the company in return for common stock. Penman also lent the company $33,000. This $33,000 note is doe ane year hence. 2. The comparyy purchased equipment in the amount of $30,000, pay ing 56,000 cash and signing a note payable to the equipment manufacturer for the remaining balance. 3. The company purchased inventory for 548,000 cash in March. 4. The company had March sales of $60,000, of which $36,000 was for cash and $24,000 on credit. Total cost of goods sold for its March sales was 542,000 . 5. The company purchased future advertising time from a local radio station for $6,000 cash. 6. During March, $4,500 worth of radio spots purchased in transaction 5 are aired. The remaining spots will be aired in April. 7. Employee wages earned and paid during March total $10,200cash. 8. Prior to disclosing the financial statements, the company recognized that employees had earned an additional 5600 in wages that wir be paid in the next period. 9. The company recorded $1,200 of depreciation for March relating to its equipment. a. Record the effect of each transaction using the finandal statement effects template. Note: For each account category, indicate the appropnate account name. Enter N/A' for any account category that is not used for agiven transaction. Note: Indicate a decrease in an account category by including a negative sign with the amount. Anifoods, Inc. Income Statement For Month Ended March 31 Please answer ais parts of the question. chicele P Type here to search