P5—2 (T-accounts and the accounting equation) The following T-accounts reflect seven different transactions that Rodman Container Company entered into during 1997. For each transaction, describe what occurred and how it affected the accounting equation. Cash Accounts Receivable Equipment

(a) 7,000

(c) 2,000

(a) 21,000

(f) 5,000

(d) 50,000

(f) 5,000

(d) 20,000 (g) 25,000

(e) 1,200 Inventory Accounts Payable Notes Payable

(b) 6,000

(c) 2,000

(b) 6,000

(d) 30,000 Common Stock Sales Revenue Rent Expense (g) 25,000

(a) 28,000

(e) 1,200