Bryant Company sells a wide range of inventories, which are initially purchased on account. Occasionally, short$-$term notes payable are used to obtain cash for current use. The following transactions were selected from those occurring during the year:

On January $10,$ purchased merchandise on credit for $$18,000.$ The company uses a perpetual inventory system.

On March $1,$ borrowed $$40,000$ cash from City Bank and signed a promissory note with a face amount of $$40,000,$ due at the end of six months, accruing interest at an annual rate of $8$ percent, payable at maturity.

Required:

$1.$For each of the transactions, indicate the accounts, amounts, and effects on the accounting equation. The accounting equation is $($Assets $=$ Liabilities $+$ Stockholders Equity $)$

$2.$What amount of cash is paid on the maturity date of the note?

$3.$Indicate the impact of each transaction $($increase$,$ decrease, and no effect$)$ on the debt$-$to$-$assets ratio. Assume Bryant Company had $$300,000$ in total liabilities and $$500,000$ in total assets, yielding a debt$-$to$-$assets ratio of $0\mathrm{.}60,$ prior to each transaction.