Recording Transactions with the Accounting Equation During the year, the Riley Company experienced the following accounting transactions: 1. Purchased equipment with cash in the amount of $165,000. 2. Purchased supplies on account in the amount of $15,000. 3. Collected $19,500 cash from customers. 4. Paid a cash dividend of $11,000. Using the accounting equation, record each of the transactions in columnar format using the following temp Note: Use negative signs with your answers, when appropriate. Assets = Liabilities + Stockholders' Equity Accounts Accounts Retained Cash + Receivable + Supplies + Equipment = Payable + Earnings 0 + 0 + 0 + 0 + 0 + + 0 + + + i mit + +