P9-3 Determining Financial Effects of Transactions Affecting Current Liabilities LO9-1, 9-5 Rogers Company completed the following transactions during Year 1. Rogers's fiscal year ends on December 31 Jan. 8 Purchased merchandise for resale on account. The invoice amount was $14,860; assume a perpetual inventory system. 17 Paid January 8 invoice. Apr. 1 Borrowed $35,000 from National Bank for general use; signed a 12-month, 8% annual interest-bearing note for the money. June 3 Purchased merchandise for resale on account. The invoice amount was $17,420. July 5 Paid June 3 invoice Aug. 1 Rented office space in one of Rogers's buildings to another company and collected six months' rent in advance amounting to $6,000 Dec. 20 Received a $100 deposit from a customer as a guarantee to return a trailer borrowed for 30 days 31 Determined wages of $9,500 were earned but not yet paid on December 31 (disregard payroll taxes). Required 1. For each transaction indicate the effects (e.g., cashor-), using the following schedule: (Indicate the direction of the effect by selecting"+"for increase,"" for decrease from the dropdown menu.) Date Assets Liabilities Stockholders' Equity January 8 January 17 April 1 June 3 July 5 August 1 December 20 December 31 wages December 31 interest December 31 rent