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:

a$.$ On January $10,$ purchased merchandise on credit for $$22,000.$ The company uses a perpetual inventory system.

b$.$ On March $1,$ borrowed $$48,000$ cash from City Bank and signed a promissory note with a face amount of $$48,000,$ due at the

end of six months, accruing interest at an annual rate of $7\mathrm{.}50$ percent, payable at maturity.

Required:

For each of the transactions, indicate the accounts, amounts, and effects on the accounting equation.

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

Indicate the impact of each transaction $($increase$,$ decrease, and no effect$)$ on the debt$-$to$-$assets ratio. Assume Bryant Company

had $$380,000$ in total liabilities and $$580,000$ in total assets, yielding a debt$-$to$-$assets ratio of $0\mathrm{.}66,$ prior to each transaction.

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Required $1$

Indicate the impact of each transaction $($increase$,$ decrease, and no effect$)$ on the debt$-$to$-$assets ratio. Assume Bryant

Company had $$380,000$ in total liabilities and $$580,000$ in total assets, yielding a debt$-$to$-$assets ratio of $0\mathrm{.}66,$ prior to each

transaction. $($Round your answers to $2$ decimal places.$)$