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Problem-1
During 2017, Blossom Company entered into the following transactions.
| 1. | Purchased equipment for $323,340 cash. | |
| 2. | Issued common stock to investors for $139,300 cash. | |
| 3. | Purchased inventory of $71,720 on account. |
Using the following tabular analysis, show the effect of each transaction on the accounting equation. For Retained Earnings, use separate columns for Revenues, Expenses, and Dividends if necessary.Continue reading