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Writea minimum 150-word response to each of the following scenarios from Exercise E3-1 in Financial Accounting (p. 132) describing the effect of each transaction on

Writea minimum 150-word response to each of the following scenarios from Exercise E3-1 inFinancial Accounting(p. 132) 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.

Usethe Excelspreadsheet to record your answers andsubmitwith your responses.

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