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Need help Recording on chart 1. Acquired $7,000 cash from the issue of common stock 2. Narrowed $12,000 cash from the state bank 3. Collected
Need help Recording on chart
Required a. Record the events in an accounting equation like the one shown next. Record the amounts of revenue, expense, and dividends in the Retained Earnings column. Provide the appropriate titles for these accounts in the last column of the table The first as an example. (Enter any for Retained Earnings".) decreases to account balances with a minus sign. S elect "NA" if there is no effect on the "Accounts Titles ng Equ Cash Land nt O NA Beg Bal 014 1. Acquired $7,000 cash from the issue of common stock
2. Narrowed $12,000 cash from the state bank
3. Collected $47,000 cash as a result of providing services to Customers
4. Paid $30,000 for operating expenses
5. Paid an $8,000 cash dividend to the stockholders
6. Paid $20,000 cash to purchase land
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