(Answered) Question - company xyz entered in the following

Accounting

Question - Company XYZ entered in the following transactions during the month of June:

(1) purchased inventory on account for $165,000 (assume XYZ 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;

(5) paid suppliers of inventory $145,000.

Analyze each transaction and show the effect of each on the accounting equation for a corporation.

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