Record each event in the accounting equation below. Plies, Inc. started May with $600 worth of supplies. Assets Liabilities Shareholders' equity CC Retained earnings 1. During May, Plies purchased $300 of supplies on account. $______ $______ $______ $______ TO RECEIVE FULL CREDIT FOR THE QUESTION, AN ANSWER MUST BE SELECTED FOR EACH COLUMN (ASSETS, LIABILITIES, CONTRIBUTED CAPITAL, & RETAINED EARNINGS) EVEN IF THERE IS NO EFFECT. IF THERE IS NO EFFECT, SELECT "0 NO EFFECT." .

1. Record each event in the accounting equation below.
Plies, Inc. started May with $600 worth of supplies.
Assets
Liabilities
Shareholders' equity
CC
Retained earnings
1. During May, Plies purchased $300 of supplies on account.
$______
$______
$______

2. $______
TO RECEIVE FULL CREDIT FOR THE QUESTION, AN
ANSWER MUST BE SELECTED FOR EACH COLUMN
(ASSETS, LIABILITIES, CONTRIBUTED CAPITAL, &
RETAINED EARNINGS) EVEN IF THERE IS NO EFFECT. IF
THERE IS NO EFFECT, SELECT "0 NO EFFECT."