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The following table shows the effects of five transactions (1 through 5) on the assets, liabilities, and equity of Mulan's Boutique. Match the given transaction
The following table shows the effects of five transactions (1 through 5) on the assets, liabilities, and equity of Mulan's Boutique. Match the given transaction with its probable description. Assets = Liabilities + Equity Accounts Receivable $ 0 + Office Supplies $3,000 Cash $ 21,000 4,000 + Accounts Payable $ Land $ 19,000 + Common Stock $ 43,000 Revenues $ + + + + + - 4,000 1,000 + 1,000 1. 2. 3. 4. 5. 1,900 + 1,900 - - 1,000 1,000 1,900 $ 17,900 + 1,900 ta $ 4,000 $ 23,000 $ $ 43,000 $ 1,900 Transaction Description 1. 2. 3. 4. 5. The company billed a client $1,900 for services provided. The company collected $1,900 cash from an account receivable. The company paid $1,000 cash in dividends to shareholders. The company paid $1,000 cash toward an account payable
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