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The following transactions occur for the Panther Detective Agency during the month of July: 1. Purchase a truck and sign a note payable, $13,400.
The following transactions occur for the Panther Detective Agency during the month of July: 1. Purchase a truck and sign a note payable, $13,400. 2. Purchase office supplies for cash, $440. 3. Pay $640 in rent for the current month. Analyze each transaction and show the effects of each on the accounting equation. Note: Decreases to account classifications should be Indicated by a minus sign. Transaction Assets Liabilities (1) $ 13,400 = $ 13,400 + (1) = + (2) $ 440 = + (2) = + (3) = + (3) = + Stockholders' Equity
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