December 1 Sanyu Sony transferred $67,500 cash from a personal savings account to a checking account in the name of Sony Electric in exchange for its common stock. December 2 The company paid $1,900 cash for the December rent. December 3 The company purchased $13,700 of electrical equipment by paying $5,500 cash and agreeing to pay the $8,200 balance in 30 days. December 5 The company purchased supplies by paying $800 cash. December 6 The company completed electrical work and immediately collected $1,500 cash for these services. December 8 The company purchased $2,910 of office equipment on credit. December 15 The company completed electrical work on credit in the amount of $7,000. December 18 The compa purchased $390 of supplies on credit. December 20 The company paid $2,910 cash for the office equipment purchased on December 8. December 24 The company billed a client $900 for electrical work completed; the balance is due in 30 day 5. December 28 The company received $7,000 cash for the work completed on December 15. December 29 The company paid the assistant's salary of $1,600 cash for this month. December 30 The company paid $580 cash for this month's utility bill. December 31 The company paid $950 cash in dividends to the owner (sole shareholder). Required information [The following information applies to the questions displayed below.] Sanyu Sony started a new business and completed these transactions during December. December 1 Sanyu Sony transferred $67,500 cash from a personal savings account to a checking account in the name of Sony Electric in exchange for its conmon stock. Decenber 2 The company paid $1,900 cash for the Decenber rent. Decenber 3 The conpany purchased $13,700 of electrical equipment by paying $5,500 cash and agreeing to pay the $8,200 balance in 30 days. December 5 The company purchased supplies by paying $800 cash. Decenber 6 The company compteted electrical work and immediately collected 51,500 cash for these services. Decenber 8 The company purchased $2,910 of of ice equipment on credit. December 15 The company completed electrical work on credit in the anount of $7,000. Decenber 18 The conpany purchased $390 of supplies on credit. December 20 The company paid $2,910 cash for the office equipment purchased on Decenber 8. December 24 The company billed a client 590 for electrical work completed; the batance is due in 30 days. Decesber 28 . The company received $7,000 cash for the work conpleted on Decenber 15. Decenber 29 The company paid the assistant's salary of $1,600 cash for this month. December 30 The company paid $580 cash for this month's utility bill. December 31 The company paid $950 cash in dividends to the owner (sole shareholder). Required: 1. Enter the amount of each transaction on individual items of the accounting equation. (Enter reductions to account balances with a minus sign.)
