The Marchetti Soup Company entered into the following transactions during the month of June: (1) purchased inventory on account for $240,000 (assume Marchetti uses a perpetual inventory system); (2) paid $59,000 in salaries to employees for work performed during the month; (3) sold inventory on account to customers for $295,000 that had a cost of $158,000; (4) collected $275,000 in cash from credit customers; and (5) paid on account to suppliers of inventory $220,000. 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. (1) (2) (3) (4) (5) Assets = || || = ||||||| Liabilities + + + + + + Paid-in capital + + + + + + Retained Earnings

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The Marchetti Soup Company entered into the following transactions during the month of June: (1) purchased inventory on account for $240,000 (assume Marchetti uses a perpetual inventory system): (2) paid $59,000 in salaries to employees for work performed during the month; (3) sold inventory on account to customers for $295,000 that had a cost of $158,000; (4) collected $275,000 in cash from credit customers; and (5) paid on account to suppliers of inventory $220,000. 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 $240,000 (assume Marchetti uses a perpetual inventory system): (2) paid $59,000 in salaries to employees for work performed during the month; (3) sold inventory on account to customers for $295,000 that had a cost of $158,000; (4) collected $275,000 in cash from credit customers; and (5) paid on account to suppliers of inventory $220,000. 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