the following transactions are taken from the books of miller manufacturing a bought 4375688

The following transactions are taken from the books of Miller Manufacturing. a. Bought office equipment with cash, $ 30,000. b. Bought supplies on credit from a vendor, $ 15,000. c. Sold goods for cash, $ 40,000 (ignore the inventory and cost of goods sold entry of this transaction). d. Bought raw materials from a supplier on account, $ 22,000. e. Sold goods to customers on account, $ 65,000 (ignore the inventory and cost of goods sold entry of this transaction). f. Purchased raw materials by issuing a note payable, $ 14,000. g. P aid cash toward note payable balance, $ 4,000. h. Received cash from customer to apply to credit account balance, $ 3,000. i. Paid for accounting and legal fees in cash, $ 5,000. j. Paid salaries in cash, $ 12,000. Show the effect of each transaction on assets, liabilities, and equity using the accounting equation. View Solution:
The following transactions are taken from the books of Miller

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