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During 2022, Blossom Company entered into the following transactions. 1. Purchased equipment for $265,170 cash. 2. Issued common stock to investors for $134,590 cash. 3.

During 2022, Blossom Company entered into the following transactions.

1. Purchased equipment for $265,170 cash.
2. Issued common stock to investors for $134,590 cash.
3. Purchased inventory of $62,480 on account.

Using the following tabular analysis, show the effect of each transaction on the accounting equation. (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 3-4 for example.)

Assets

=

Liabilities

+

Stockholders Equity

Cash + Inventory + Equipment = Accounts Payable + Common Stock +

Retained Earnings

(1)

$enter a dollar amount

$enter a dollar amount

$enter a dollar amount

$enter a dollar amount

$enter a dollar amount

$enter a dollar amount

(2)

enter a dollar amount

enter a dollar amount

enter a dollar amount

enter a dollar amount

enter a dollar amount

enter a dollar amount

(3)

enter a dollar amount

enter a dollar amount

enter a dollar amount

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