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Business, 16.10.2020 19:01 kaliyab191

During 2017, its first year of operations as a delivery service, Sarasota Corp. entered into the following transactions. 1. Issued shares of common stock to investors in exchange for $103,000 in cash.
2. Borrowed $45,000 by issuing bonds.
3. Purchased delivery trucks for $61,000 cash.
4. Received $18,000 from customers for services performed.
5. Purchased supplies for $4,900 on account.
6. Paid rent of $5,400.
7. Performed services on account for $12,000.
8. Paid salaries of $26,100.
9. Paid a dividend of $11,200 to shareholders.

Required:
Show the effect of each transaction on the accounting equation.

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During 2017, its first year of operations as a delivery service, Sarasota Corp. entered into the fol...

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