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Exercise 3-3 During 2017, its first year of operations as a delivery service, Monty Corp. entered into the following transactions, 1. Issued shares of common

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Exercise 3-3 During 2017, its first year of operations as a delivery service, Monty Corp. entered into the following transactions, 1. Issued shares of common stock to investors in exchange for $109,000 in cash. 2. Borrowed $53,000 by issuing bonds. 3. Purchased delivery trucks for $60,000 cash. 4. Received $14,000 from customers for services performed. 5. Purchased supplies for $4,100 on account. 6. Paid rent of $6,200. 7. Performed services on account for $11.900. 8. Paid salaries of $28.600. 9. Paid a dividend of $11,200 to shareholders. Using the following tabular analysis, show the effect of each transaction on the accounting equation. Put explanations for changes to Stockholders' Equity in the far right column. Liability or Equity item that was reduced, see Illustration 3-3 for example.) Stockholders' Equity Assets Accounts + Receivable - Supplies Liabilities Accounts Bonds Payable Payable + Equipment - Cash Common Stock + Retained Earnings Revenues - Expenses - Dividends Click if you would like to Show Work for this question: Open Show Work

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