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Transactions made by Wildhorse Co. for the month of March are shown below. 1. The company performed $22.920 of services for customers on account.

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Transactions made by Wildhorse Co. for the month of March are shown below. 1. The company performed $22.920 of services for customers on account. 2. The company received $22,920 in cash from customers who had been billed for services [in transaction (1)]. 3. 4. The company received a bill for $2,400 of advertising but will not pay it until a later date. Wildhorse Co. paid a cash dividend of $2,430. Prepare a tabular analysis that shows the effects of these transactions on the expanded accounting equation. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See Illustration 3-4 for example.) (1) (2) (3) (4) Cash Assets + Accounts Receivable Liabilities Accounts Payable + Common Stock

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