Following is a list of events for Sterling Moving for the month of January. Show the effects in dollars of these events on the accounting equation by completing the table below.
Jan. 1 Owner invested $30,000 cash into the business.
3 Purchased $1,500 of equipment with cash.
5 Purchased $400 of supplies on account.
12 Bought a car, paying $2,000 in cash and signing a note
for $10,000.
14 Performed services for a customer for $1,000 on account.
15 Paid employee wages of $600.
18 Paid $2,000 on the note payable for the car purchased on Jan. 12.
24 Performed services for a customer for cash, $2,500.
27 Collected $500 from the customer of Jan. 14.
30 Owner withdrew $400 cash for personal use.
Correct Answer:
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