E4-1. Transaction Analysis. The following transactions are taken from the books of Miller Manufacturing.

a) Bought office equipment with cash, $30,000.

b) Bought supplies on credit from a vendor, $15,000

. c) Sold goods for cash, $40,000 (ignore the inventory and cost of goods sold entry of this transaction).

d) Bought raw materials from a supplier on account, $22,000.

e) Sold goods to customers on account, $65,000 (ignore the inventory and cost of goods sold entry of this transaction).

f) Purchased raw materials by issuing a note payable, $14,000

. g) Paid cash toward note payable balance, $4,000.

h) Received cash from customer to apply to credit account balance, $3,000.

i) Paid for accounting and legal fees in cash, $5,000. j) Paid salaries in cash, $12,000. Show the effect of each transaction on assets, liabilities, and equity using the accounting equation