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During 2017, Sarasota Corp.entered into the following transactions 1. Borrowed $58,100 by issuing a note. Paid $8,960 cash dividend to stockholders. 2. Received $14,200 cash
During 2017, Sarasota Corp.entered into the following transactions 1. Borrowed $58,100 by issuing a note. Paid $8,960 cash dividend to stockholders. 2. Received $14,200 cash from a previously billed customer for services performed 3. Purchased supplies on account for $4,200. 4. 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.) Assets Liabilities Cash Accounts ReceivableSupplies Accounts Payable Notes Payable
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