Bryant Company sells a wide range of inventories, which are nitially purchased on account. Occasionally, a short-term note payable is 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 $28,000. The company uses a perpetual inventory system. bOn March 1, borrowed $60,000 cash from City Bank and signed a promissory note with a face amount of $60,000, due at the end of six months, accruing interest at an annual rate of 9.00 percent, payable at maturity. Required: 1 For each of the transactions, indicate the accounts, amounts, and effects on the accounting equation. (Enter any decreases to account balances with a minus sign.) Assets January 10 March 1