Groro Co. bills a client $62,000 for services provided and agrees to accept the following three items in full payment: (1) $10,000 cash, (2) equipment worth $80,000, and (3) to assume responsibility for a $28,000 note payable related to the equipment.

(a) Analyze the transaction using the accounting equation.

(b) Prepare general journal entries for the above transactions.

(c) Post the entry using T-accounts to represent ledger accounts.

Complete this question by entering your answers in the tabs below. Required B Required C Required A Analyze the transaction using the accounting equation Assets Liabilities Equity Cash Equipment Note Payable Revenue 62,000 10,000 80,000 28,000 Required A > Required B Complete this question by entering your answers in the tabs below Required A Required B Required C Prepare general journal entries for the above transactions. View transaction list View journal entry worksheet No Date General Journal Debit Credit Cash May 15 1 10,000 Equipment 80,000 Note payable 28,000 Required C> Required A Complete this question by entering your answers in the tabs below. Required A Required B Required C Post the entry using T-accounts to represent ledger accounts. Cash 101 Note Payable 245 10,000 28000 Revenue 404 Equipment 167 80,000 80000 62000 62,000 KRequired B Required C