White Tools Company started business on October $1,2023.$ Its fiscal year runs through to September $30$ of the following year. The

following transactions occurred in the fiscal year that started on October $1,2023,$ and ended on September $30,2024.$

On October $1,2023,$ Karen White invested $$177,000$ to start the business. White is the only owner. She was issued $10,000$

common shares.

On October $1,$ White Tools borrowed $$222,500$ from a venture capitalist $($a lender who specializes in start$-$up companies$)$

and signed a note payable.

On October $1,$ the company rented a building. The rental agreement was a two$-$year contract requiring quarterly rental

payments $($every three months$)$ of $$10,500,$ payable in advance. The first payment was made on October $1,2023($covering

the period from October $1$ to December $31).$ Thereafter, payments were due on December $31,$ March $31,$ June $30,$ and

September $30$ for each three$-$month period that followed. All of the rental payments were made as specified in the

agreement.

On October $1,$ the company purchased equipment costing $$305,800$ for cash.

Initial inventory was purchased for $$94,000$ cash.

Additional purchases of inventory during the year totalled $$578,000,$ all on account.

Sales during the year totalled $$925,000,$ of which $$832,500$ were on account.

Collections from customers on account totalled $$658,000.$

Payments to suppliers on account totalled $$515,500.$

The cost of the inventory that was sold during the year was $$553,500.$

Selling and administrative expenses totalled $$84,500$ for the year. Of this amount, $$5,800$ was unpaid at year end.

Interest on the note payable from the venture capitalist was paid at year end $($September $30,2024).$ The interest rate on the

note is $10\%.$ In addition, $$27,100$ of the note principal was repaid at that time.

The equipment was depreciated based on an estimated useful life of $10$ years and an estimated residual value of $$27,800.$

The company declared and paid a dividend of $$6,100.$

$(a)$

Your answer is partially correct.

Show the effects of the transactions on the basic accounting equation. $($Enter amounts that decrease account balance using either a

negative sign preceding the number e$.$g$.-45$ or parentheses e$.$g$.(45).$ Indicate whether it is Revenues, Expenses or Dividends declared in the

last column. In case if there is no effect then select "Not Applicable".$)$