2 011824 Mc Graw Ming Chen started a business and had the following transactions in June. a. Owner invested $60,000 cash in the company along with $15,000 of equipment. b. The company paid $1,500 cash for rent of office space for the month c. The company purchased $10,000 of additional equipment on credit (payment due within 30 days). d. The company completed work for a client and immediately collected $2,500 cash. e. The company completed work for a client and sent a bill for $8,000 to be received within 30 days. f. The company purchased additional equipment for $6,000 cash. g. The company paid an assistant $3,000 cash as wages for the month. h. The company collected $5,000 cash as a partial payment for the amount owed by the client in transaction e L. The company paid $10,000 cash to settle the liability created in transaction c The owner withdrew $1,000 cash from the company for personal use. Required: Complete the table using additions and subtractions to show the dollar effects of the transactions on individual items of the accounting equation. (Enter decreases to account balances with a minus sign.) Assets Cash Accounts Receivable Equipment Liabilities Accounts Payable M. Chen, Capital . Equity . Revenues Expenses M. Chen, Withdrawals + . . Balance after a and b + D . + " 0 1 + + 0 - . 0- Balance after c 0 . 0 . d. . + Balance after d 0+ . 0 0 . Balance ahere . 0 IN 0 + 0 O 0 + + " 14 Balance ater 0 0+ . 01 < Prev 2 of 2 Next