Indicate the accounts, amounts, and direction of the effects on the accounting equation (Assets = Liabilities + Stockholders Equity).

Enter the exact amount of the transaction or 0 for No Effect in the 3rd box of each line. Do not include the dollar sign.

The Company borrowed $3,940 from a local bank on a note due in six months Assets 1: Answer Answer Answer Liabilities: Answer Answer Answer Shareholders' Equity: Answer Answer Answer