1. Complete the Accounting equation and" T "Account for that transaction 2. Balance the Accounting Equation 3. Balance the" T "accounts a. On January 1, James Reed deposited 20,000 cash in a bank account in the name of Excel Solutions. IN EXCHANGE FOR CAPITAL STOCK b. On January 7 Excel Solutions paid $5000 for the purchase of land as a future building site putting 1/2 as down payment in cash and the % as a Notes Payable c. On January 11, Excel Solutions purchased $700 supplies on account. d. On January 13, Excel Solutions received $3500 cash from customers for services provided. e. On January 20, Excel Solutions paid the following expenses: $2300 salaries; $550 rent, $200 utilities, and $350 miscellaneous, f. On January 30, Excel Solutions paid creditors $500 for supplies purchased on account earlier this month g. On January 31. James determined that the cost of supplies on hand at January 30 was $100