The following events occurred for Favata Company: a. Received $16,500 cash from owners and issued stock to them. b. Borrowed $13,500 cash from a bank and signed a note due later this year. c. Bought and received $1,450 of equipment on account. d. Purchased land for $25,000; paid $2,300 in cash and signed a long-term note for $22,700. e. Purchased $9,500 of equipment; paid $2,300 in cash and charged the rest on account. Required: For each of the events (a) through (e), perform transaction analysis and indicate the account, amount, and direction accounting equation. (Enter any decreases to account balances with a minus sign.) + Assets + 13,500 + c. Event a. Cash b. Cash Equipment d. Land d. Cash e. Equipment e Cash Liabilities 16,500 - 13,500 = Notes Payable (short-term) 1.450 - Accounts Payable 25,000 - Notes Payable (long-term) (2,300) = 9,500 = Accounts Payable (1,000) = 22,700 + 8,500 + + + + er this year. long-term note for $22,700. ged the rest on account. is and indicate the account, amount, and direction of the effect on the with a minus sign.) Liabilities Stockholders' Equity 16,500 + Common Stock 13,500 + tes Payable (short-term) counts Payable tes Payable (long-term) + 22,700 + + counts Payable 8,500 +