Jack Hammer Company completed the following transactions. The annual accounting period ends December 31.

Apr 30: Received $600,000 from Commerce Bank after signing a 12-month, 6 percent, promissory note.

June 6: Purchased merchandise on account at a cost of $75,000. (Assume a perpetual inventory system.)

July 15: Paid for the June 6 purchase

Aug 31: Signed a contract to provide security service to a small apartment complex and collected six months fees in advance amounting to $24,000. (Use an account called Unearned Revenue.

Dec 31: Determined salary and wages of $40,000 were earned but not yet paid as of December 31 (ignore payroll taxes).

Dec 31: Adjusted the accounts at year-end, relating to interest.

Dec 31: Adjusted the accounts at year-end, relating to security service

1.)

For each listed transaction and related adjusting entry, indicate the accounts, amounts, and effects on the accounting equation. (Do not round intermediate calculations. Enter any decreases to account balances with a minus sign. Enter your answers in transaction order provided in the problem statement.)

2.)For each item, indicate whether the debt-to-assets ratio is increased or decreased or there is no change. State the Effect, numerator, and denominator for each item, (Assume Jack Hammers debt-to-assets ratio is less than 1.0.) (Enter your answers in transaction order provided in the problem statement.)