The following events apply to Jason's Lawn Service for 2016.
1).Issued stock for $14,000 cash.
2).On January 1,purchased equipment for $12,000.The equipment has an estimated 5-year useful life and a $2,000 salvage value.
3).On May 1,issued a $3,000,5% 3-year note to a local bank.
4).Performed services of $18,400 and received cash.
5).Paid $15,000 of operating expenses.
6).At December 31,adjusted the records to recognize expense associated with use of the equipment and accrued interest.
Required: Record the effects of the above events under the appropriate account headings in the accounting formula below.Precede the amount with a minus sign if the transaction reduces that section of the equation.Enter 0 for items not affected.

Question

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The Answer of The following events apply to Jason's Lawn Service for 2016.
1).Issued stock for $14,000 cash.
2).On January 1,purchased equipment for $12,000.The equipment has an estimated 5-year useful life and a $2,000 salvage value.
3).On May 1,issued a $3,000,5% 3-year note to a local bank.
4).Performed services of $18,400 and received cash.
5).Paid $15,000 of operating expenses.
6).At December 31,adjusted the records to recognize expense associated with use of the equipment and accrued interest.
Required: Record the effects of the above events under the appropriate account headings in the accounting formula below.Precede the amount with a minus sign if the transaction reduces that section of the equation.Enter 0 for items not affected.

The Following Events Apply to Jason's Lawn Service for 2016