The Cougar Creamery enters into the following transactions during the month of June: 1. Purchase inventory on account for $155,000 2. Pay $42,000 in salaries to employees for work performed during the monthly 3. Sell merchandise that cost $124,000 to customers on account for $210,000 4. Collect $190,000 in cash from customers on account; and 5. Pay for inventory previously purchased on account for $135,000. Analyze each transaction and show the effects of each on the accounting equation. Note: Amounts to be deducted should be indicated by a minus sign. (1) (1) (2) (2) (3) (3) (4) (4) (5) (5) Assets || || Liabilities + Retained Earnings + + + + + + + + + +

The Cougar Creamery enters into the following transactions during the month of June: 1. Purchase inventory on account for $155,000 2. Pay $42,000 in salaries to employees for work performed during the monthly 3. Sell merchandise that cost $124,000 to customers on account for $210,000 4. Collect $190,000 in cash from customers on account; and 5. Pay for inventory previously purchased on account for $135,000. Analyze each transaction and show the effects of each on the accounting equation. Note: Amounts to be deducted should be indicated by a minus sign