... charge of $1,000 per month - The financial vice president of Kirk Corporation purchased a new vehicle for cash of $35,000 What is the amount of total assets of Kirk Corporation at the end of the ... of supplies on account • Pays $5,000 cash for new equipment • Pays off $3,000 of accounts payable • Pays off $1,500 of notes payable a) Analyze the effect of these transactions on the basic accounting ... of equipment C The company buys $10,000 of equipment, for $4,000 cash and a promise to cancel $6,000 of debt owed to it D The company sells $10,000 of equipment, for $4,000 in cash and pays off...