The Marchetti Soup Company entered into the following transactions during the month of June: (1) purchased inventory on account for $215,000 (assume Marchetti uses a perpetual inventory system); (2) paid $54,000 in salaries to employees for work performed during the month; (3) sold inventory on account to customers for $270,000 that had a cost of $148,000; (4) collected $250,000 in cash from credit customers; and (5) paid on account to suppliers of inventory $195,000.

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 $215,000 (assume Marchetti uses a perpetual inventory system); (2) paid $54,000 in salaries to employees for work performed during the month; (3) sold inventory on account to customers for $270,000 that had a cost of $148,000; (4) collected $250,000 in cash from credit customers; and (5) paid on account to suppliers of inventory $195,000. 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