the following transactions or events occurred for abc's company during 2014. this was the company's first year of operations.
- issued stock to several investors
- borrowed $50,000 cash from the wells fargo bank. signed a note payable.
- provided services to its customers and received $20,000 cash
- paid various expenses of $15,000
- paid $22,000 cash for some equipment
- received $12,000 cash from a customer for services to be performed next year
7. repaid $5,000 of the loan from wells fargo bank listed in item 2
show the effects of the above transactions on the account equation below. indicate dollar amounts amounts of increases and decreases. precede the amount with a minus sign or (brackets)if the event reduces that section of the equation. enter NA for items not effected. if one section is affected by an increase and also a decrease , enter each part on a separate line . the first transaction is done for you.
transactions assets = liabilities + equity
45,000 = NA + 45,000
1. issued stock to several investors
2. borrowed $50,000 cash from the wells fargo bank. signed a note payable. 3. provided services to its customers and received $20,000 cash 4. paid...
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