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The following transactions occur for Badger Biking Company during the month of June: a. Provide services to customers on account for $36,000. b. Receive cash
The following transactions occur for Badger Biking Company during the month of June: a. Provide services to customers on account for $36,000. b. Receive cash of $28,000 from customers in (a) above. c. Purchase bike equipment by signing a note with the bank for $21,000. d. Pay utilities of $3,600 for the current month. Analyze each transaction and indicate the amount of increases and decreases in the accounting equation. (Decreases to acco classifications should be entered as a negative.) Transaction Assets = Liabilities + Stockholders' Equity (a) (b) increase (b) decrease (c) (d)
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