During Borrowed $67,200 by issuing a note. Paid $10,080 cash dividend to stockholders. Received $14,560 cash from a previously billed customer for services performed. 4. Purchased supplies on account for $3,472. 1. 2. 3. Using the following tabular analysis, show the effect of each transaction on the accounting equation. For retained for revenues expenses, and dividends if necessary. (If a transaction results in a of the amount entere

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business…