5) Given below are the daily balances in the accounts of Superior Company. Given the transaction for each day, explain what the company did that day. Accounts Accounts Owners Cash Receivable Inventory Equipment Payable Equity Beg. Bal.$1,250 $500 $1,125 $3,000 $625 $5,250 May 1 1.250 500 1,325 3,000 825 5,250 May 2 1,400 350 1,325 3,000 825 5,250 May 3 1.225 350 1,325 3,000 650 5,250 May 4 1,600 350 1,325 3,000 650 5,625 May 5 1,375 350 1,325 3,575 1,000 5,625