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Following are the transactions of Dennen, Inc., ror the month of January. a Borrowed $28,500 from a local bank b. Lent $7,.300 to an affiliate;
Following are the transactions of Dennen, Inc., ror the month of January. a Borrowed $28,500 from a local bank b. Lent $7,.300 to an affiliate; accepted a note due in one year c. Sold to investors 60 additional shares of stock with a par value or so.10 per share and a market price or $15 per share, received cash d. Purchased $21,000 of equipment, paying $4,900 cash and signing a note for the rest due in one year. e Declared and paid $4,000 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 bilities +Stockholders' Equity a Cash 28,50000Notes payable 28,500.00 C. d
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