Sandy's Supply Store entered into the transactions listed below. In the journal provided, prepare Sandy's Supply Store's entries, assuming use of the perpetual inventory system. Omit explanations.
Definitions:
Financing Activities
Transactions that result in changes in the size and composition of the equity capital and borrowings of a company.
Dividend Payments
Distributions of a portion of a company's earnings to its shareholders, typically in the form of cash or additional stock.
Borrowed Money
Funds that have been loaned to an entity and must be repaid to the lender, often with interest, at a future date.
Balance Sheet Equation
The fundamental accounting equation representing the relationship between an entity's assets, liabilities, and equity (Assets = Liabilities + Equity).
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