Business, 28.06.2021 16:30, myamiller558

Margaret Moore started her own consulting firm, Carla Vista Consulting, on May 1, 2020. The following transactions occurred during the month of May. May:
1 Trixie invested $7,600 cash in the business.
2 Paid $950 for office rent for the month.
3 Purchased $600 of supplies on account.
5 Paid $160 to advertise in the County News.
9 Received $4,500 cash for services performed.
12 Withdrew $1,200 cash for personal use.
15 Performed $5,600 of services on account.
17 Paid $2,000 for employee salaries.
20 Made a partial payment of $400 for the supplies purchased on account on May 3.
23 Received a cash payment of $3,600 for services performed on account on May 15.
26 Borrowed $5,500 from the bank on a note payable.
29 Purchased equipment for $4,000 on account.
30 Paid $350 for utilities.

Required:
Show the effects of the previous transactions on the accounting equation.

Answers: 2

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Margaret Moore started her own consulting firm, Carla Vista Consulting, on May 1, 2020. The followin...