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During 2017, Monty Corp. entered into the following transactions. 1. Borrowed $60,500 by issuing bonds. 2. Paid $9,260 cash dividend to stockholders. 3. Received $19,500
During 2017, Monty Corp. entered into the following transactions. 1. Borrowed $60,500 by issuing bonds. 2. Paid $9,260 cash dividend to stockholders. 3. Received $19,500 cash from a previously billed customer for services performed. 4. Purchased supplies on account for $3,500. 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.) (1) $ (2) (3) (4) Cash tA $ Assets Accounts Receivable LA $ Supplies CA $ Accounts Payable Liabilities Bonds Payable tA $ LA $ Stockholders' Equity Retained Earnings Common Stock CA $
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