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Check my work Sally borrows $400 from Joan by signing a note. July 3 July 6 July 9 July 14 July 18 July 20
Check my work Sally borrows $400 from Joan by signing a note. July 3 July 6 July 9 July 14 July 18 July 20 July 27 Sally performs repair services for other customers for cash, $600.. July 30 Sally pays employee salaries for the month, $100. July 31 Sally pays $400 to Joan for money borrowed on July 14. Joan provides lawn services to Sally's repair shop on account, $300. One of Joan's mowers malfunctions. Sally provides repair services to Joan on account, $250. Sally pays $300 to Joan for lawn services provided on July 3. Joan purchases advertising in a local newspaper for the remainder of July and pays cash, $120. Joan pays $250 to Sally for services provided on July 6. Required: 2. Using the format shown below, enter the impact of each transaction on the accounting equation for each company. (Decreases to account classifications should be entered as a negative.) JOAN'S LAWN MAINTENANCE COMPANY Assets Liabilities Stockholders' Equity Assets SALLY'S REPAIR SHOP Liabilities +Stockholders' Equity July 03 July 06 $ $ 300- $ 0+ $ 300 $ 0 $ 300 + $ 250 $ 0+ $ 300 $ 0 $ 300 + $ (300) (50) July 09 $ 300- + + July 09 + July 14 July 14 + + + + July 18 + July 20 + July 20 July 27 July 30 July 31 +
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