The Marchetti Soup Company entered into the following transactions during the month of June: (1) purchased inventory on account for $180,000 (assume Marchetti uses a perpetual inventory system); (2) paid $47,000 in salaries to employees for work performed during the month; (3) sold inventory on account to customers for $235,000 that had a cost of $134,000; (4) collected $215,000 in cash from credit customers; and (5) paid on account to suppliers of inventory $160,000. Analyze each transaction and show the effect of each on the accounting equation for a corporation. Note: Amounts to be deducted should be indicated by a minus sign. Enter the net change on the accounting equation.

The Marchetti Soup Company entered into the following transactions during the month of June: (1) purchased inventory on account for $180,000 (assume Marchetti uses a perpetual inventory system); (2) paid $47,000 in salaries to employees for work performed during the month; (3) sold inventory on account to customers for $235,000 that had a cost of $134,000; (4) collected $215,000 in cash from credit customers; and (5) paid on account to suppliers of inventory $160,000. Analyze each transaction and show the effect of each on the accounting equation for a corporation. Note: Amounts to be deducted should be indicated by a minus sign. Enter the net change on the accounting equation