Danets Company made the following selected transactions during May: 1. Received cash from sale of stock, $55,000. 2. Paid creditors on account, $7,000. 3. Billed customers for services on account, $2,565 4. Received cash from customers on account, $6,450. 5. Paid dividends to stockholders, $2,500, 6. Received the utility bill, 5160, to be paid next month. Indicate the effect of each transaction on the accounting equation by a. Account type (A) assets, (L) habilities, (SE) stockholders' equity, (R) revenue, and (E) expense b. Name of account c. The amount by of the transaction d. The direction of change (increase or decrease) in the account affected Note: Each transaction has two entries. Enter all amounts as positive numbers. Namong Entry Entry Acct. Type (e) Name of Acct. (b) Amount (c) Increase or Decrease (d) Acct. Type (a) Name of Acct. (b) Amount (c) Increase or Decrea (d) Previous Next