Transactions Falcon's Related Account 1. Falcon purchases common stock of Wildcat. Investment2. Falcon borrows from Wildcat by signing a note Notes payable3. Wildcat pays dividends to Falcon Dividend revenue4. Falcon provides services to Wildcat Service revenue5. Falcon pays interest to Wildcat on borrowing Interest expense Required:For each transaction, indicate whether Falcon would report the related account in the balance sheet or income statement. For accounts in the balance sheet, indicate whether it would be classified as an asset, liability, or stockholders' equity. For accounts in the income statement, indicate whether it would be classified as a revenue or an expense. Indicate whether each transaction is classified as operating, investing, or financing activity.
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Home » Business » Transactions Falcon's Related Account 1. Falcon purchases common stock of Wildcat. Investment2. Falcon borrows from Wildcat by signing a note Notes payable3. Wildcat pays dividends to Falcon Dividend revenue4.