Question

The following transactions occur for Badger Biking Company during the month of June:

a. Provide services to customers on account for $50,000.

b. Receive cash of $42,000 from customers in (a) above.

c. Purchase bike equipment by signing a note with the bank for $35,000.

d. Pay utilities of $5,000 for the current month.

Analyze each transaction and indicate the amount of increases and decreases in the accounting equation