A business purchases a new delivery vehicle for $$ \$30,000 $ . It pays $ \$10,000 $$ in cash and signs a promissory note for the remaining balance. How does this transaction immediately affect the accounting equation?
Question 2
A company performs services for a client for $$ \$4,000 $ . The client pays $ \$1,500 $ in cash immediately, and the remaining $ \$2,500 $$ is to be paid next month. How does this transaction affect the accounting equation?
Question 3
A business owner withdraws $$ \$1,200 $$ cash for personal use. What is the effect of this transaction on the accounting equation?
Question 4
A company receives a utility bill for $$ \$200 $$ but has not yet paid it. How does this transaction affect the accounting equation?
Question 5
A company sells goods on credit for $$ \$6,000 $ . The cost of these goods was $ \$3,500 $$ . How does this transaction affect the accounting equation?
