The following transactions occur for the wolfpack shoe company during the month of june:
a. provide services to customers for $30,000 and receive cash.
b. purchase office supplies on account for $20,000.
c. pay $7,000 in salaries to employees for work performed during the month.
required:
1. analyze each transaction. for each transaction, indicate by how much each category in the acounting equation increases or decreases
assets = liabilities + stockholder's equity
2. record the transactions. the company uses the following accounts:
cash, supplies, accounts payable, salaries expense, and service revenue.