Required information [The following information applies to the questions displayed below.] Sanyu Sony started a new business and completed these transactions during December. December 1 Sanyu Sony transferred $67,200 cash from a personal savings account to a checking account in the name of Sony Electric in exchange for its common stock. December 2 The company paid $1,300 cash for the December rent. December 3 The company purchased $13,900 of electrical equipment by paying $5,700 cash and agreeing to pay the $8,200 balance in 30 days. December 5 The company purchased supplies by paying $1,000 cash. December 6 The company completed electrical work and immediately collected $1,300 cash for these services. December 8 The company purchased $2,950 of office equipment on credit. December 15 The company completed electrical work on credit in the amount of $4,100. December 18 The company purchased $368 of supplies on credit. December 28 The company paid $2,950 cash for the office equipment purchased on December 8. December 24 The company billed a client $900 for electrical work completed; the balance is due in 30 days. December 28 The company received $4,100 cash for the work completed on December 15. December 29 The company paid the assistant's salary of $1,800 cash for this month. December 30 The company paid $540 cash for this month's utility bill. December 31 The company paid $950 cash in dividends to the owner (sole shareholder). Required: 1. Enter the amount of each transaction on individual items of the accounting equation. (Enter reductions to account balances with a minus sign.) Date December 1 December 2 Balance after December 1 and December 2 December 3 Assets Cash + Accounts Receivable Supplies + Office Equipment Electrical Equipment Liabilities Accounts Payable Equity Common + Dividends + Revenues Stock Expenses + + + + + + + + = + Balance after December 3 + December 5 + Balance after December 5 + + December 6 + + + + + + Balance after December 6 + December 8 Balance after December 8 + December 15 + + + + = Balance after December 15 + + + December 18 + + + Balance after December 18 + December 20 + + Balance after December 20 + December 24 + + + = + + = + + + + = + + + = + + = + + = + + Balance after December 24 + + + + + December 28 + + + = + + Balance after December 28 + = + December 29 + + = + Balance after December 29 + + = + + December 30 + + = + Balance after December 30 + + + + Prev 1 of 1 Next