Writea minimum 150-word response to each of the following scenarios

Transactions made by Mickelson Co. for the month of March are shown below. Prepare a tabular analysis that shows the effects of these transactions on the expanded accounting equation.

1. The company performed $20,000 of services for customers on account.
2. The company received $20,000 in cash from customers who had been billed for services [in transaction (1)].
3. The company received a bill for $1,800 of advertising but will not pay it until a later date.
4. Mickelson Co. paid a cash dividend of $3,000.

describing the effect of each transaction on assets, liabilities, and stockholder's equity:

• Selected transactions for Thyme Advertising Company, Inc.
  • Issued common stock to investors in exchange for cash received from investors.
  • Paid monthly rent.
  • Received cash from customers when service was performed.
  • Billed customers for services performed.
  • Paid dividend to stockholders.
  • Incurred advertising expense on account.
  • Received cash from customers billed in (4).
  • Purchased additional equipment for cash.
  • Purchased equipment on account.

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