Following are the transactions of JonesSpa Corporation, for the month of January Borrowed $20,500 from a local bank Lent $7,400 to an affiliate accepted a note due in one year Sold to investors 80 additional shares of stock with a par value of $0 10 per share and a market price of $10 per share received cash Purchased $18,500 of equipment, paying $4,900 cash and signing a note for the rest due in one year Declared $3,700 in cash dividends to stockholders, to be paid in February For each of the above transactions of JonesSpa Corporation, for the month of January, indicate the accounts, the amounts, and the direction of the effects ( for increase and for decrease) on the accounting equation A sample is provided Assets Liabilities Stockholders' Equity a Cash Notes payable 20,500 b Notes receivable 20,500 7,400 7,400 Cash C Cash 800 d Equipment Cash 18,500 4,900 3,700 e Cash

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Following are the transactions of JonesSpa Corporation, for the month of January. Borrowed $20,500 from a local bank. Lent $7,400 to an affiliate; accepted a

image text in transcribed Following are the transactions of JonesSpa Corporation, for the month of January.

Borrowed $20,500 from a local bank.
Lent $7,400 to an affiliate; accepted a note due in one year.
Sold to investors 80 additional shares of stock with a par value of $0.10 per share and a market price of $10 per share; received cash.
Purchased $18,500 of equipment, paying $4,900 cash and signing a note for the rest due in one year.
Declared $3,700 in cash dividends to stockholders, to be paid in February.

For each of the above transactions of JonesSpa Corporation, for the month of January, indicate the accounts, the amounts, and the direction of the effects (+ for increase and for decrease) on the accounting equation. A sample is provided.

Assets Liabilities Stockholders' Equity a. Cash Notes payable 20,500 b. Notes receivable 20,500 7,400 -7,400 Cash C. Cash 800 d. Equipment Cash 18,500 4,900 3,700 e. Cash