EZ Curb Company completed the following transactions. The annual accounting period ends December 31. January 8 Purchased merchandise on account at a cost of $26,500. (Assume a perpetual inventory system.) January 17 Paid for the January 8 purchase. April 1 Received $60,000 from National Bank after signing a 12-month, 18.5 percent, promissory note. June 3 Purchased merchandise on account at a cost of $30,500. July 5 July 31 Paid for the June 3 purchase. Rented out a small office in a building owned by EZ Curb Company and collected six months' rent in advance, amounting to $13,500. (Use an account called Deferred Revenue.) December 20 Collected $350 cash on account from a customer. December 31 Determined that wages of $11,500 were earned but not yet paid on December 31 (Ignore payroll taxes). December 31 Adjusted the accounts at year-end, relating to interest. December 31 Adjusted the accounts at year-end, relating to rent. Required: 1. For each listed transaction and related adjusting entry, indicate the accounts, amounts, and effects on the accounting equation. 2. For each transaction and related adjusting entry, indicate whether the debt-to-assets ratio is increased or decreased or there is no change. (Assume EZ Curb Company's debt-to-assets ratio has always been less than 1.0.) Required 1 Required 2 For each listed transaction and related adjusting entry, indicate the accounts, amounts, and effects on the accounting equation. (Do not round intermediate ca stockholders equity with a minus sign. Enter your answers in transaction order provided in the problem statement.) Date Assets January 8 Inventory January 17 Cash April 1 Cash June 3 Inventory July 5 Cash July 31 Cash December 20 Cash December 20 Accounts Receivable December 31 Salaries and Wages Expense December 31 Interest Payable December 31 26,500 = Accounts Payable (26,500) = Accounts Payable Liabilities 60,000 = Notes Payable (long-term) 30,500 = Accounts Payable (30,500) = Accounts Payable II 13,500 = 350 = Deferred Revenue (350) = 11,500 = Salaries and Wages Payable = Interest Expense II = + 26,500+ (26,500) + 60,000+ 30,500+ (30,500) + 13,500+ + 11,500 + + + Stockhold Required 1 Required 2 For each transaction and related adjusting entry, indicate whether the debt-to-assets ratio is in is no change. (Assume EZ Curb Company's debt-to-assets ratio has always been less than 1.0 transaction order provided in the problem statement.) Date January 8 January 17 April 1 June 3 July 5 July 31 December 20 December 31 December 31 December 31 Effect on Ratio Numerator Denominator