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Rawlco Communications operates 10 radio stations throughout the West. The following events occurred during September. a. Placed an order for office supplies costing $2,500. Supplier
Rawlco Communications operates 10 radio stations throughout the West. The following events occurred during September.
a. Placed an order for office supplies costing $2,500. Supplier intends to deliver later in the month. b. Purchased equipment that cost $30,000; paid $18,000 cash and signed a promissory note to pay $12,000 in one month. c. Negotiated and signed a one-year bank loan, and then deposited $6,000 cash in the company's checking account d. Hired a new finance manager on the last day of the month. e. Received an investment of $10,000 cash from the company's owners in exchange for issuing common shares. f. Supplies (ordered in (a)] were received, along with a bill for $2,500. value: 0.62 points Required: 1. Indicate the specific account, amount and direction of effects for each transaction on the radio station's accounting equation. If an event is not considered a transaction, leave the account, amount and direction of effects blank. (Enter any decreases to account balances with a minus sign.) Assets Liabilities Stockholders' Equity TotalsStep by Step Solution
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