Exercise 2-5 Analyzing effects of a compound entry LO A1 Groro Co bills a client $62,000 for services provided and agrees to accept the following three items in full payment (1) $10,000 cash, (2) equipment worth $80,000, and (3) to assume responsibility for a $28,000 note payable related to the equipment (a) Analyze the transaction using the accounting equation (b) Prepare general journal entries for the above transactions, (c) Post the entry using T-accounts to represent ledger accounts. Complete this question by entering your answers in the tabs below. Required A Required B Required Analyze the transaction using the accounting equation Assets Liabilities Note Payable Equity Revenue Equipment Required B > Required A Required B Required Prepare general journal entries for the above transactions. View transaction list Journal entry worksheet Exercise 2-5 Analyzing effects of a compound entry LO A1 Groro Co bills a client $62,000 for services provided and agrees to accept the following three items in full payment (1) $10,000 cash 12) equipment worth $80,000, and (3) to assume responsibility for a $28,000 note payable related to the equipment (a) Analyze the transaction using the accounting equation, (6) Prepare general journal entries for the above transactions (c) Post the entry using T-accounts to represent ledger accounts Complete this question by entering your answers in the tabs below. Required A Required B Required Post the entry using T-accounts to represent ledger accounts. Cast 101 Note Payable 245 Equipment 167 Revenue 404