Recording Transactions with the Accounting Equation During the year, the Flight Company experienced the following accounting transactions: 1. Issued common stock in the amount of $150,000 2. Paid a $30,000 cash dividend 3. Borrowed $25,000 from a bank 4. Made a principal payment of $3,500 on an outstanding bank loan 5. Made an interest payment of $1,200 on an outstanding bank loan Using the accounting equation, record each of the transactions in columnar format using the following template: Use negative signs with answers, when appropriate. Assets Cash = Liabilities + Stockholders' Equity = Notes payable + Common stock + Retained earnings 1 $ + + A - | + + N " " - 3 % + + M " " - 4 % + + " " - 10 + + "