Mackenzie Arsen decided to open Mackenzie's Nail Spa. Mackenzie completed the following transactions:
A. Invested $23,000 cash from her personal bank account into the business
B. Bought store equipment for cash $4,100
C. Bought additional store equipment on account, $6,400
D. Paid $500 cash to partially reduce what was owed from transaction C.
Based on this information, record these transactions into the basic accounting equation. Keep a running balance.
Transaction lines are identified by the corresponding transaction letter (A., B, etc.). If the net effect of a transaction on an account categorylong dashAssets, Liabilities, or Owner's Equitylong dash is $0, leave the cell blank, do not enter a "0". Beginning with transaction B., calculate the ending balances on the "Bal." line for applicable account categories that have a non-zero balance. (If an input field is not used in the transaction or balance [Bal.] line leave the field empty; do not enter a zero. Enter a decrease in an account category with a minus sign or parentheses.)
