Transaction Analysis The accounting equation of L. Chen & Company as of the beginning of the accounting period is given below, followed by Accounting Equation Assets Accounts = Liabilities + Stockholders' Equity Office Accounts Notes Common Retained Transaction Cash Beginning balance $4,100 + Receivable Supplies Payable Payable Stock Earnings (a) 6,500 + $9,000+ (6,500) + $700 = $800+ $2,500 + $2,000+ $8,500 = + + + (b) + + 400 = 400+ + + (c) + 7,000 + = + + + 7,000 (d) (800) + + = (800) + + + (e) (4,900) + + + + + (4,900) (f) (300) + + 300 = + + + (g) 1,200 + + = + 1,200 + + Match the transactions shown in the above table to the appropriate transaction description. Description Transaction Purchased supplies on account Paid amounts due to vendors. Paid cash wages to employees. Borrowed money from bank on a note. Collected amounts due from customers. Paid cash for supplies Provided services to customers on account.