The following transactions are taken from the records of Phantom Security Company:

Assets = Liabilities + Owner’s Equity

(a) Rex Simpson, the owner, invested

$12,000 cash in the business.

(b) Phantom paid $6,000 cash to acquire security equipment.

(c) Phantom received a $7,000 cash loan from Story County Bank.

Required: Determine the overall effect of each transaction on the assets, liabilities, and owner's equity of Phantom Security Company. Use the symbols / for increase, D for decrease, and N for no change.Also show the related dollar amounts.