Exercise 13-16 a list of possible tra Analyzc the effect of the 18 transactions on the financial statement categories indicated Asset Owners' Eqity Net Income 1. Purchased invantory for $80,000 on account (assume parpatual aystam is usad). 2. Issued an $80,000 note payable in payment on account (sec item 1 above) 3. Recor ded accrued interes t on the note from item 2 above. 1. Borrowed $100,000 from the bank by signing a 6-month, $112,000, zero-interest-beoring not 5. Recognized 4 months' interest expense on the note from item 4 above. 6. Recorded cash sale of $75,260, which includes 6% sales tax. 7. Recorded wge expense of $35,000, The cash paid was $25,000: the difference was due to vanous amounts withheld. 3. Recorded employar's payroll taxes 9. Accrued accumulatad vacation pay. 10. Recorded an asset retirement obligation. 11. Recorded bonuses due to employces 12. Recorded contingent loss on a laweuit that the company will probably lose