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The Marchetti Soup Company entered into the following transactions during the month of June (1)...

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Accounting

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The Marchetti Soup Company entered into the following transactions during the month of June (1) purchased inventory on account for $165,000 (assume Marchetti uses a perpetual inventory system), (2) paid $40,000 in salaries to employees for work performed during the month (3) sold merchandise that cost $120,000 to credit customers for $200,000; (4) collected $180,000 in cash from credit customers; and (5) paid suppliers of inventory $145,000 Analyze each transaction and show the effect of each on the accounting equation for a corporation (Amounts to be deducted should be indicated by a minus sign. Enter the net change on the accounting equation.) Assets Liabilities Paid in capital Retained Earnings 12) (3) (4)

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