# Accounting Equation

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Transcribed Image Text: Following is a list of events for Sterling Moving for the month of January. Show the effects in dollars of these events on the accounting equation by completing the table below. Jan. 1 Owner invested \$30,000 cash into the business, 3 Purchased \$1,500 of equipment with cash. 5 Purchased \$400 of supplies on account. 2. Bought a car, paying \$2,000 in cash and signing a note for \$10,000, 14 Performed services for a customer for \$1,000 on account. 15 Paid employee wages of \$600. 18 Paid \$2,000 on the note payable for the car purchased on Jan, 12 24 Performed services for a customer for eash, \$2,500, 27 Collected \$500 from the customer of Jan. 14, 30. Owner withdrew \$400 cash for personal use.
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Transcribed Image Text: Following is a list of events for Sterling Moving for the month of January. Show the effects in dollars of these events on the accounting equation by completing the table below. Jan. 1 Owner invested \$30,000 cash into the business, 3 Purchased \$1,500 of equipment with cash. 5 Purchased \$400 of supplies on account. 2. Bought a car, paying \$2,000 in cash and signing a note for \$10,000, 14 Performed services for a customer for \$1,000 on account. 15 Paid employee wages of \$600. 18 Paid \$2,000 on the note payable for the car purchased on Jan, 12 24 Performed services for a customer for eash, \$2,500, 27 Collected \$500 from the customer of Jan. 14, 30. Owner withdrew \$400 cash for personal use.