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During 2017, Grouper Corp. entered into the following transactions. 1. Borrowed $63,400 by issuing bonds. 2. Paid $8,690 cash dividend to stockholders. 3. Received $18,400
During 2017, Grouper Corp. entered into the following transactions. 1. Borrowed $63,400 by issuing bonds. 2. Paid $8,690 cash dividend to stockholders. 3. Received $18,400 cash from a previously billed customer for services performed. 4. Purchased supplies on account for $4,800. Using the following tabular analysis, show the effect of each transaction on the accounting equation. For Retained Earnings, use separate columns for Revenues, Expenses, and Dividends if necessary. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See Illustration 3-3 for example.) Assets Liabilities Stockholders' Equity 2 = Accounts Payable + Bonds Payable + Common Stock + Retained Earnings Cash + Accounts Receivable Supplies Click if you would like to Show Work for this question: Open Show Work
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