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Following are the transactions of Dennen, Inc, for the month of January. a. Borrowed $29,500 from a local bank. b. Lent $7,900 to an affiliate;
Following are the transactions of Dennen, Inc, for the month of January. a. Borrowed $29,500 from a local bank. b. Lent $7,900 to an affiliate; accepted a note due in one year. c. Sold to investors 100 additional shares of stock with a par value of $0.10 per share and a market price of $5 per share; received cash d. Purchased $21,000 of equipment, paying $5,200 cash and signing a note for the rest due in one year. e. Declared and paid $3,000 in dividends to stockholders. For each of the above transactions of Dennen, Inc., for the month of January, indicate the accounts, amounts, and direction of the effects+for increase and-for decrease) on the accounting equation. A sample is provided Assets Liabilities Stockholders' Equity a. Cash 29,500.00 Notes payable 29,500.00 b. C. d. e
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