EO-5 Detemining the Impactof Current Liablity Transactions, including Analysis of the Debt-to-Assets Rato LO bt-to-Assets Ratio [LO 10-2, L Bryant Company sells a wide range of inventories, which are initially purchased on account. Occasionally, a note payable is used to obtain cash for current use. The following transactions were selected short-term from those occurring during the year. On January 10, purchased merchandise on credit for $18,000. The company uses a perpetual inventory system. b. On March 1, borrowed $40,000 cash from City Bank and signed a promissory note with a face amount of $40,000, due at the end of six months, accruing interest at an annual rate of 8 percent, payable at maturity. Required: 1. For each of the transactions, indicate the accounts, amounts, and effects on the accounting equation. (Enter any decreases to account balances with a minus sign.) Liabilifit's 1 Stockholders' Equity Assets Date January 10 March 1 2. What amount of cash is paid on the maturity date of the note? ash Paid 3. Indicate the impact of each transaction (increase, decrease, and NE for no effect) on the debt-to-assets IMG 0560.jpg IMG 0558jpg IMG 0561.jpg IMG-0554.jpg