E10-5 Determining the Impact of Current Liability Transactions, Including Analysis of the Debt-to-Assets Ratio [LO 10-2, LO 10-5 Bryant Company sells a wide range of inventories, which are initialy purchased on account. Occasionally, a short-term note payable is used to obtain cash for ourrent use. The following transactions were selected from those occurring during the year. a. On January 10, purchased merchandise on credit for $25,500. The company uses a perpetual inventory system. b. On March 1, borrowed $55,000 cash from City Bank and signed a promissory note with a face amount of $56,000, due at the end of six months, acoruing interest at an annual rate of 6.50 percent, payable at maturty Required 1. For each of the transactions, indicate the accounts, amounts, and effects on the aocouning equation (Enter any decreases to account baiances with a minus sign) Stockholders' Equity January 10 March 1