Singh Company started business on January 1, 2020. The following transactions occurred in 2020:

1.		On January 1, the company issued 9,500 common shares for $237,500.
2.		On January 2, the company borrowed $54,000 from the bank.
3.		On January 3, the company purchased land and a building for a total of $200,000 cash. The land was recently appraised at a fair market value of $60,000. (Note: Because the building will be depreciated in the future and the land will not, these two assets should be recorded in separate accounts.)
4.		Inventory costing $132,000 was purchased on account.
5.		Sales to customers totalled $231,500. Of these, $174,500 were sales on account.
6.		The cost of the inventory that was sold to customers in transaction 5 was $121,500.
7.		Payments to suppliers on account totalled $125,000.
8.		Collections from customers on account totalled $155,500.
9.		Payments to employees for wages were $57,900. In addition, there was $2,000 of unpaid wages at year end.
10.		The interest on the bank loan was recognized for the year. The interest rate on the loan was 6%.
11.		The building was estimated to have a useful life of 30 years and a residual value of $20,000. The company uses the straight-line method of depreciation.
12.		The company declared dividends of $7,300 on December 15, 2020, to be paid on January 15, 2021.
Analyze the effects of each transaction on the basic accounting equation. (If an amount reduces the account balance then enter with negative sign. Indicate whether it is Revenue, Expense or Dividend Declared in the last column. In case if there is no effect then select "Not Applicable".) put the transaction under the right account:																				Shareholders' Equity
Trans.	Cash		Accounts Receivable		Inventory		Buildings		Land		Accounts Payable		Wages Payable		Interest Payable		Dividends Payable		Loan Payable		Common Shares		Retained Earnings	Revenue/Expense/ Dividend Declared