Terry Company
Transactions
Oct $\quad$ Terry Purchased Computer Equipment For

question 91

Essay

Terry Company
Transactions
Oct. 1 $\quad$ Terry purchased computer equipment for $\$ 8,400$ , paying $\$ 1,000$ now, and issuing a promissory note for the bal ance; the note is due in monthly installments of $\$ 500$ plus interest at $10 \%$ on the unpaid balance.

8 $\quad$ Terry records service revenue earned: $\$ 3,200$ from cash customers; $\$ 12,000$ for customers billed for completed services.

22 $\quad$ Common stock is issued for land with a far value of $\$ 35,000$ .

31 $\quad$ An invoice for $\$ 1,200$ is received from the company's advertising agency for ads that were run on radio and $\mathrm { TV }$ during October; the invoice is due in 30 days.
-Refer to the Terry Company transactions.
Required
Indicate the economic effects of each transaction above on the accounting equation.Use the following format for your answers.Show the dollar amounts in the appropriate columns and use a "+" (plus)sign to indicate an increase and a "-" (minus)sign to indicate a decrease.
$$\begin{array} { c c c c } \text { Transaction }&&&\text { Stockholders' } \\\text { Date }& \text { Assets } & \text { Liabilities } &\text{Equity} \\\hline\end{array}$$

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Definitions:

Touch-point

An interaction point between a customer and a product, brand, or company, which can be a crucial factor in customer experience.

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Two-pedal AMTs

Automated Manual Transmissions that eliminate the need for a clutch pedal, simplifying driving by using only accelerator and brake pedals.

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An automatic clutch that uses centrifugal force to engage the drivetrain as the engine's rpm increases, commonly found in small vehicles and machines without a manual clutch.