In an Individual Retirement Account or Keogh Plan, a 10% penalty tax will be imposed for: A failing to pay $5,500 to an Individual Retirement Account or Keogh Plan by April 15th B the purchase of a mutual fund in an Individual Retirement Account or Keogh Plan C premature distributions from an Individual Retirement Account or Keogh Plan D excess contributions to an Individual Retirement Account or Keogh Plan

The following transactions occur for badger biking company during the month of june: a. provide services to customers on account for $32,000. b. receive cash of $24,000 from customers in (a) above. c. purchase bike equipment by signing a note with the bank for $17,000. d. pay utilities of $3,200 for the current month. analyze each transaction and indicate the amount of increases and decreases in the accounting equation. (decreases to account classifications should be entered as a negative.)