CP10-1 (Algo) Determining Financial Effects of Transactions Affecting Current Liabilities with Evaluation of Effects on the Debt-to-Assets Ratio [LO 10-2, LO 10-5] EZ Curb Company completed the following transactions. The annual accounting period ends December 31 January 8 Purchased merchandise on account at a cost of $18,000. (Assume a perpetual inventory system.) January 17 Paid for the January purchase. April 1 Received $46,400 froe National Bank after signing a 12-month, 10.0 percent, promissory note. June Purchased merchandise on account at a cost of $22,000. July 5 Paid for the June 3 purchase. July 31 Rented out a small office in a building owned by EZ Curb Company and collected six months' rent in advance, amounting to 58,400. (Use an account called Deferred Revenue.) December 28 Collected $180 cash on account from a customer. December 31 Determined that wages of $8,100 were earned but not yet paid on December 31 (Ignore payroll taxes). December 31 Adjusted the accounts at year-end, relating to interest. December 31 Adjusted the accounts at year-end, relating to rent. Required: 1. For each fisted transaction and related adjusting entry, indicate the accounts, amounts, and effects on the accounting equation 2. For each transaction and related adjusting entry, indicate whether the debt to assets ratio is increased or decreased or there is no change (Assume EZ Curb Company's debt-to-assets ratio has always been less than 1.0) Complete this question by entering your answers in the tabs below. Required 1 Required 21 for each listed transaction and related adjusting entry, indicate the accounts, amounts, and effects on the accounting equation. (Do not und intermediate calculations. Enter any decreases to assets, lie stickholders equity with a minus sign Enter your answers in transactien order provided in the problem statement.) Date January January 17 Apr 1 June 3 Jays My 31 December 20 December 20 December 31 December 31 December 31 Assets Liabilities + . + . + Stockholders' Equity