Grizzly Co. enters into the following transactions: Stockholders contribute $10,500 cash to a company in exchange for common stock. The company purchases $5,250 of new equipment in exchange for its promise to pay $5,250 at the end of next month. The company pays $3,050 to suppliers on account. Required: a. Show the effect of these transactions on the basic accounting equation. b. Prepare the journal entries that would be used to record the transactions. Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Required A | Required B Show the effect of these transactions on the basic accounting equation. (Enter any decreases to account balances with a minus sign.) Transaction Analysis Liabilities Assets = + Stockholde View transaction list Journal entry worksheet 2 3 Record the entry for cash contributed by stockholders, $10,500. Note: Enter debits before credits. Transaction General Journal Debit Credit a View transaction list Journal entry worksheet Record the purchase of new equipment for $5,250 cash. Note: Enter debits before credits. Transaction General Journal Debit Credit View transaction list Journal entry worksheet