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company P from last month. What is the ending debit or creul i Recording Transactions with the Accounting Equation During the year, the Decker Company expe L0 rienced the following accounting transactions: 1. Issued common stock in the amount of $100,000 2. Paid a $30,000 cash dividend 3. Borrowed $25,000 from a bank 4. Made a principal payment of $2,500 on an outstanding bank loan 5. Made an interest payment of $1,200 on an outstanding bank loan Using the accounting equation, record each of the transactions in columnar format using the following template Liabilities + Notes PayableCommon Stock+ Retained Earnings Assets Stockholders Equity Cash
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Assets Liabilities Stockholders Equity Reference Retained Earnings Cash $100,000 (S30,000) $25,000 ($2,500) (S1,200) Notes Payable +Common Stock $100,000 (S30,000) $25,000 0 4 (S2,500) ($1,200) Note: Principle payment of a loan decreases the liability Interest payment is an expense. So, it decreases the income of the Decker Company which results in a reduction of retained earnings as the income is the part of retained earnings

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