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During 2022, Novak Corp. entered into the following transactions. 1. Borrowed $61,000 by issuing bonds. 2. Paid $9,350 cash dividend to stockholders. 3. Received $18,800
During 2022, Novak Corp. entered into the following transactions. 1. Borrowed $61,000 by issuing bonds. 2. Paid $9,350 cash dividend to stockholders. 3. Received $18,800 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. (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.)
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