TRANSACTIONS 1. Performed services for $6,700 on credit. 2. Paid $1,720 in cash for new office chairs. 3. Received $11,400 in cash from credit clients. 4. Paid $900 in cash for telephone service. 5. Sent a check for $4,900 in partial payment of the amount due creditors. 6. Paid salaries of $8,500 in cash. 7. Sent a check for $1,140 to pay electric bill. 8. Performed services for $10,700 in cash, 9. Paid $2,370 in cash for auto repairs. 10. Performed services for $12,700 on account. Enter the above transactions in to the following accounting equations. Analyze: What is the amount of total assets after all transactions have been recorded? Accounting Equation Analyze Enter the above transactions in to the following accounting equations. (Enter decreases to account balances with a minus sign.) Assets Liabilities Owner's Equity Office Accounts Receivable Accounts Payable H. Joseph, Capital Cash Auto Revenue Expenses Furniture Beginning Balances + + 1. + + + New Balances 0 + 0 + 0 = 0 + 0 + 2. + + + = New Balances 0 + 0 + 0 = 0 + -1 3. New Balances + %3D 0 + 0 = 0 + 0 + 4. + %3D New Balances 0 + 0 = 5. + + + New Balances 01 + 0 = 0 + 01 + 0 - 6. New Balances 0 + 0 + 0 + 0 = 0 + 0 + 0 - 7. +