The Marchetti Soup Company entered into the following transactions during the month of June: (1) purchased inventory on account for $235,000 (assume Marchetti uses a perpetual inventory system), (2) paid $58,000 in salaries to employees for work performed during the month; (3) sold merchandise that cost $156,000 to credit customers for $290,000, (4) collected $270,000 in cash from credit customers; and (5) paid suppliers of inventory $215,000. 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 (1) (2) (3) (4) 28636 Liabilities Paid in capital Retained Earnings 1 of 6 Next >