How to solve

Exercise $2-1($Static$)$ Transaction analysis $[$LO$2-1]$

The following transactions cccurred diring March $2024$ for the Right Corporetion. The company cperates a whalesale warehouse.

$1$ Issuod $30,000$ shares of nopar commton stock in exchange far $$300,000$ in cash.

$2$ Purchased equipment at o cost of $$40,000$ Cash of $$10\mathrm{.}000$ was paid and o note payabie to the seller was signed for the batance awed.

$3.$ Purchased imventory on accoumt at a cost of $$90$ oDa. The compony uses the perpetual inwentary system.

$4.$ Credh sales for the manth totalod $$120,000.$ The cost of the goods sold wos $$70000.$

$5.$ Paid $$5,000$ in rent on the warehouse bulding for the manth of March.

E$.$ Paid $$6,000$ to an insurance compary for tre and liability insurance for o one$-$year periad beginning April $1,2024.$

T$.$ Paid $$70,000$ on account for the imventory purchased in fronsoction $3$

$8.$ Collected $855,000$ frem customers an account

$9$ Recarded depreciation expense of $$1000$ far the mante en the equipment.

Required:

Ansyze each transoction and show the effect of each on the cupanded accounting equation for a corparation

Note: Amounts to be dedutted sheuld be indiented by a minus sign. Enter the net ehange on the accounting equation.

$\backslash$table$[[,$Aasets,$=,$Liabilines,,Pais$-$n Capital,$+,$Retained Earninga$],[1\mathrm{.}2,$B$20\mathrm{.}000,$E$,,+-,300,000,,],[2\mathrm{.}2,,E,,,,,],[3.,,$E$,,+-,,E,],[$E$,,E,,$t$,,t,],[5),,E,,***,,,],[$E$.,,E,,E,,,],[Z,,,,,,E,],[B,,E,,,,+,],[$Q$,,E,,,,7,]]$