Brief Exercise 3-2 During 2017, Sheffield Corp. entered into the following transactions. 1. Borrowed $64,900 by issuing bonds. 2. Paid $8,540 cash dividend to stockholders 3. Received $13,800 cash from a previously billed customer for services performed. 4. Purchased supplies on account for $4,100 Using the following tabular analysis, show the effect of each transaction on the accounting equation. For Retained Earnings, use separate columns for Revenues, Expenses, and Dividends if necessary. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See Illustration 3-3 for example.) Assets Liabilities Stockholders' Equity Cash + Accounts Receivable + Supplies = Accounts Payable + Bonds Payable + Common Stock + Retained Earnings