Screen Shot 2021-09-04 at 3... Q Q C e. Required information [The following information applies...
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Screen Shot 2021-09-04 at 3... Q Q C e. Required information [The following information applies to the questions displayed below.) Assume Down, Incorporated, was organized on May 1 to compete with Despair, Incorporated--a company that sells de motivational posters and office products. Down, Incorporated, encountered the following events during its first month of operations. a. Received $32,000 cash from the investors who organized Down, Incorporated b. Borrowed $17.000 cash and signed a note due in two years. c. Ordered equipment costing $14,000 d. Purchased $8,000 in equipment paying $2,000 in cash and signing a six-month note for the balance. e. Received the equipment ordered in (d. paid for half of it, and put the rest on account + 3. 01 BE Required: 1. Summarize the financial effects of items (0)-(e) in a table. (Enter any decreases to account balances with a minus sign.) OT Assets Liabilities ot 10 - cd ethe Short-term Notes Stockholders Equity Common Stock Long-term Notes Accounts Payable GE Equipment ot
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