Using the following categories, indicate the effects of the following transactions. Use positive value for increase, negative value for decrease and indicate the accounts affected. a. Sales on account were $620 and related cost of goods sold was $360. b. Issued 2,000 shares of $1 par value stock for $60,000 cash. Liabilities Stockholders' Equity Event a. 620 Assets Accounts receivable Inventory Cash 620 -360 60,000 b. Cost of goods sold Common stock Additional paid-in capital 2.000 58,000