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1. Purchase equipment in exchange for cash of $20,600. 2. Provide services to customers and receive cash of $5,700. 3. Pay the current month's rent
1. Purchase equipment in exchange for cash of $20,600. 2. Provide services to customers and receive cash of $5,700. 3. Pay the current month's rent of $1,100. 4. Purchase office supplies on account for $1,700. 5. Pay employee salaries of $2,500 for the current month. Required: Analyze each transaction and show the effects of each on the accounting equation. Note: Decreases to account classifications should be indicated by a minus sign
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