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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.

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.)

Assets

=

Liabilities

+

Stockholders Equity

Cash + Accounts Receivable + Supplies = Accounts Payable + Bonds Payable + Common Stock +

Retained Earnings Dividends

(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

$ 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

enter a dollar amount

(3)

enter a dollar amount

enter a dollar amount

enter a dollar amount

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