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a. The company completed consulting work for a client and immediately collected $6,400 cash. b. The company completed commission work for a client and
a. The company completed consulting work for a client and immediately collected $6,400 cash. b. The company completed commission work for a client and sent a bill for $4,900 to be received within 30 days. c. The company paid an assistant $1,850 cash as wages for the period. d. The company collected $2,450 cash as a partial payment for the amount owed by the client in transaction b. e. The company paid $880 cash for this period's cleaning services. Required: Enter the impact of each transaction on individual items of the accounting equation. (Enter decreases to account balances with a minus sign.) Assets Liabilities + Equity Transactions Number Accounts Accounts Cash + Receivable Payable Owner, Capital Owner, Withdrawals + Revenue Expenses a. + = + b. + = + + Balance after a and b + = + - I + C. + II = + + Balance after c + || = + + + + - + d. + = II + Balance after d + = II e. + = + Balance after e + = + I + + I I
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