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During the financial year ended 3 1 December 2 0 2 3 , the following were some of the many transactions that occurred for GlacierTech

During the financial year ended 31 December 2023, the following were some of the many transactions that occurred for GlacierTech Ltd. Assume that each transaction is independent of the others.
1. Made credit sales of $300,000, the cost of the products sold was $120,000.
2. Received an invoice for legal services in December 2023 for $20,000 covering work completed in December 2023. The invoice will be paid in January 2024.
3. Received $60,000 on 1 October 2023 from a customer for consulting services which will be provided each month from 1 November 2023 through to the 30 April 2024.
4. Collected $150,000 cash owing from customers.
5. Paid $180,000 in wages to employees during the year; at year end wages of $20,000 are owed to employees for work done in December 2023 to be paid in January 2024.
6. Bought new equipment costing $250,000 paying in cash on 31 December 2023. The equipment has an expected useful life of 6 years and GlacierTech Ltd will commence use of the equipment in January 2024.
For each of the transactions, events, or facts above, in the table below indicate the impact on revenues, expenses, total assets and total liabilities during the financial year ended 31 December 2023. Do this by placing a + or sign (+ for increase, for decrease) to indicate direction in the appropriate box and include dollar amounts. Write NE if there is no effect. Be sure to place an answer in every box unless crossed out.
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