The following activities occurred during January Year 1. Prepare a journal entry to ensure that the basic accounting equation balances for each transaction. (a) Stockholder invests $10,000 into the business in exchange for common stock. Debit and credit the accounts affected Ensure the equation still balances and debits = credits Assets Liabilities + Stockholders' Equity (b) Company borrows $15,000 signing a note payable to the bank that is due in three months. Debit and credit the accounts affected Ensure the equation still balances and debits = credits Assets = Liabilities + Stockholders' Equity (c) Receives and pays for a $15,000 truck and $5,000 of equipment. Debit and credit the accounts affected Ensure the equation still balances and debits = credits Assets (d) Purchases $300 of supplies on account. Debit and credit the accounts affected Liabilities Ensure the equation still balances and debits credits Assets (e) Signs contract for first website design for $10,000. Debit and credit the accounts affected Liabilities Ensure the equation still balances and debits credits Assets Liabilities + + Stockholders' Equity Stockholders' Equity Stockholders' Equity (f) Pays $300 to the supplier in (d). Debit and credit the accounts affected Ensure the equation still balances and debits credits Assets = (g) Purchases and pays for $600 of supplies. Debit and credit the accounts affected Liabilities Ensure the equation still balances and debits credits Assets = (h) Purchases and pays for equipment costing $1,000. Debit and credit the accounts affected Liabilities Ensure the equation still balances and debits credits Assets Liabilities Stockholders' Equity + Stockholders' Equity I Stockholders' Equity (1) Orders a $900 computer, to be delivered in 90 days. Debit and credit the accounts affected Ensure the equation still balances and debits = credits Assets Liabilities + Stockholders' Equity