Question
. Saif invested $80,000 cash in his business. 2. Purchased supplies for $2,300 and paid cash. 3. Purchased a small car to promote his business
. Saif invested $80,000 cash in his business.
2. Purchased supplies for $2,300 and paid cash.
3. Purchased a small car to promote his business for $13,000, paid cash $3,000 and the balance on account.
4. Provided services of $5,200, received cash $2,200 and billed the customer account for the balance.
5. Payment of travel expenses of cash $1,200 for attending a conference.
6. Payment of accounts payable of $1,850 cash for equipment purchased previously to start the business.
7. Receipt of cash from customers for previous consulting services $2,000.
8. Paid 1 year rent for his business with a total amount $ 2,400 cash with the rent contract to start on September 1.
9. Provided advertising services for cash of $3,600 to one of his customers.
10. Borrowed $6,000 from a bank by signing a 3-month, 12% note.
Prepare a tabular analysis (Basic Accounting Equation) for the previous transactions of Saif new business for the month of August.
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