Brown Tools Company started business on October $1,2023.$ Its fiscal year runs through to September $30$ of the following year. The following transactions occurred in the fiscal year that started on October $1,2023,$ and ended on September $30,2024.$

$1.$ On October $1,2023,$ Elizabeth Brown invested $$178,500$ to start the business. Brown is the only owner. She was issued $10,000$ common shares.

$2.$ On October $1,$ Brown Tools borrowed $$225,500$ from a venture capitalist $($a lender who specializes in start$-$up companies$)$ and signed a note payable.

$3.$ On October $1,$ the company rented a building. The rental agreement was a two$-$year contract requiring quarterly rental payments $($every three months$)$ of $$13,000,$ payable in advance. The first payment was made on October $1,2023($covering the period from October $1$ to December $31).$ Thereafter, payments were due on December $31,$ March $31,$ June $30,$ and September $30$ for each three$-$month period that followed. All of the rental payments were made as specified in the agreement.

$4.$ On October $1,$ the company purchased equipment costing $$277,200$ for cash.

$5.$ Initial inventory was purchased for $$93,500$ cash.

$6.$ Additional purchases of inventory during the year totalled $$575,500,$ all on account,

$7.$ Sales during the year totalled $$910,000,$ of which $$819,000$ were on account.

$8.$ Collections from customers on account totalled $$653,500.$

$9.$ Payments to suppliers on account totalled $$511,500.$

$10.$ The cost of the inventory that was sold during the year was $$554,500\mathrm{.}11.$ Selling and administrative expenses totalled $$82,800$ for the year. Of this amount, $$5,400$ was unpaid at year end.

$12.$

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Interest on the note payable from the venture capitalist was paid at year end $($September $30,2024).$ The interest rate on the note is $10\%.$ In addition, $$20,100$ of the note principal was repaid at that time.

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$13.$ The equipment was depreciated based on an estimated useful life of $10$ years and an estimated residual value of $$25,200,$

$14.$ The company declared and paid a dividend of $$7,000.$

$($a$)$

Show the effects of the transactions on the basic accounting equation. $($Enter amounts that decrease account balance using either a negative sign preceding the number e$.$g$.-45$ or parentheses e$.$g$.(45),$ Indicate whether it is Revenues, Expenses or Dividends declared in the last column. In case if there is no effect then select "Not Applicable".$)$

Assets

Trans

Cash

Accounts Receivable

Prepaid Rent

Inventory

Equipment

Accounts payable

Note payable

Common shares

Retained earnings

Which category revenue expense Dividend declared