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Exercise 3-3 During 2017, its first year of operations as a delivery service, Bramble Corp. entered into the following transactions. 1. Issued shares of common
Exercise 3-3 During 2017, its first year of operations as a delivery service, Bramble Corp. entered into the following transactions. 1. Issued shares of common stock to investors in exchange for $145,000 in cash. 2. Borrowed $48,000 by issuing bonds. 3. Purchased delivery trucks for $54,000 cash. 4. Received $16,000 from customers for services performed. 5. Purchased supplies for $4,300 on account. 6. Paid rent of $4,800. 7. Performed services on account for $11,600. 8. Paid salaries of $27,200. 9. Paid a dividend of $10,000 to shareholders. Using the following tabular analysis, show the effect of each transaction on the accounting equation. Put explanations for changes to S the amount entered for the particular Asset, Liability or Equity item that was reduced, see Illustration 3-3 for example.)
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