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CP10-1 (Algo) Determining Financial Effects of Transactions Affecting Current Llabilities with Evaluation of Effects on the Debt-to-Assets Ratio [LO 10-2, LO 10-5] E2 Curb Company completed the following transactions. The annual accounting period ends December 31. Jacuary 8 Purchased eerchandise on account at a cost of 516,000 . (Assuse a perpetual inventory systen.) Jaisuary 17 Paid fon the January of purchase. Apri1 1 hecelved $43,209 fron listional bank after siening a 12-month, 8.8 percent, promissory note. June 3 purchased merchandise on account at a cost of $20,000. Joly 5 Paid for the June 3 purchase. Fuly 31 Rented out a seall office in a building owned by EZ Curb conpany and collected six months' rent in advance, asounting: to 37,200 . (Wre an account called beferred Revenue.) Decenber 20 collected siste cash on occount from a custoser. Decceber 31 Determined that wages of 37,300 were earned but not yet paid on Decenber 31 (I gnore payroll taxes). Deceeber 31 adjusted the accounts at year end, relatine to interest. pecenber 31 Adjusted the accounts at year-end, relatine to rent. Required: 1. For each listed transaction and related adjusting entry, indicate the accounts, amounts, and effects on the accounting equation. 2. For each transaction and related adjusting enty, indicate whether the debt-to-assets ratio is increased of decreased or there is no change. (Assume EZ Curb Company's debt-to-assets ratio has always been less than 1.0 ) Complete this question by entering your answers in the tabs below. For each isted traissaction and related adjusting entry, indicate the accounts, amounts, and effects an the accounting equation. (De not round intermediate