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Humber Consulting was recently formed. The balance sheet of each item in the business's accounting equation is shown below for March 1 and for each
Humber Consulting was recently formed. The balance sheet of each item in the business's accounting equation is shown below for March 1 and for each of the two following days: Date Cash Accounts Receivable Supplies Land Accounts Payable Owner's Equity March 1 $ 7000 $ 11,000 $8,000 $15,000 $4,000 $17,000 March 2 14,000 4,000 1,000 8,000 4,000 22,000 March 3 6,000 4,000 1,000 16,000 4,000 22,000 Assuming that a single transaction took place on each day, describe briefly the transaction that was most likely to have occurred on the March 3
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