During its first year of operations, a company entered into the following transactions: Borrowed $5,030 from the bank by signing a note. Issued stock to owners for $10,300. Purchased $1,030 of supplies on account. Paid $430 to suppliers as payment on account for the supplies purchased. What is the amount of total liabilities at the end of the year

At a roundabout, you must yield to a. already in the roundaboutb. entering the roundaboutc. only if their turn signal is ond. only if they honk at you

Vendors provide restaurants with what? o a. cooked items ob. raw materials oc. furniture od. menu recipes

Assume the perpetual inventory method is used. 1) the company purchased $12,500 of merchandise on account under terms 2/10, n/30. 2) the company returned $1,200 of merchandise to the supplier before payment was made. 3) the liability was paid within the discount period. 4) all of the merchandise purchased was sold for $18,800 cash. what effect will the return of merchandise to the supplier have on the accounting equation?