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The Marchetti Soup Company entered into the following transactions during the month of June (1) purchased inventory on account for $210,000 (assume Marchetti uses a

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The Marchetti Soup Company entered into the following transactions during the month of June (1) purchased inventory on account for $210,000 (assume Marchetti uses a perpetual inventory system); (2) paid $53,000 in salaries to employees for work performed during the month; (3) sold merchandise that cost $146,000 to credit customers for $265,000; (4) collected $245,000 in cash from credit customers, and (5) peld suppliers of inventory $190,000. Analyze each transaction and show the effect of each on the accounting equation for a corporation(Amounts to be deducted should be indicated by a minus sign. Enter the net change on the accounting equation.) Assets Liabilities Paid in capital Retained Earnings (1) (2) (4)

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