During the month,a company buys $4,000 of supplies on account and pays $5,000 cash for new equipment.The company also pays off $3,000 of accounts payable and $1,500 of promissory notes.Show the journal entries and analyze the effect of these transactions on the basic accounting equation.

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The Answer of During the month,a company buys $4,000 of supplies on account and pays $5,000 cash for new equipment.The company also pays off $3,000 of accounts payable and $1,500 of promissory notes.Show the journal entries and analyze the effect of these transactions on the basic accounting equation.

During the Month,a Company Buys $4,000 of Supplies on Account