2 Sweet Shop Co. is a chain of candy stores that has been in operation for the past ten years. For each of the following transactions give the accounting effects of the adjustments required. (Enter any decreases to account balances with a minus sign.) 10 points a. Ordered and received $13,700 worth of cotton candy machines from Candy Makers Inc., which Sweet Shop Co. will pay for in 45 days. b. Sent a check for $7,700 to Candy Makers Inc. for the cotton candy machines from (a). C. Received $2,100 from customers who bought candy on account in previous months. d. To help raise funds for store upgrades estimated to cost $45,500, Sweet Shop Co. issued 2,700 common shares for $15 each to existing stockholders. e. Sweet Shop Co. bought ice cream trucks for $94,000 total, paying $27,000 cash and signing a long-term note for $67,000. eBook Print Assets Liabilities Stockholders' Equity a. Equipment b. Cash Accounts Payable Accounts Payable 13,700 (7,700) C. Cash 13,700 (7,700) 2,100 (2,100) 40,500 Accounts Receivable d. Cash Common Stock 40, e. Equipment 94,000 Notes Payable (long-term) 67,000 73,000 Total 140,500 40