55) For each of the following transactions, identify the effects as reflected in the accounting equation. Use "+" to indicate an increase and "-" to indicate a decrease. Use "A". "L", and "E" to indicate assets, liabilities, and equity, respectively. Part A has been completed as an example, E b. L. Chester invested $100,000 in a corporation in exchange for common stock. Land was purchased for $50,000. A down payment of $15,000 cash was made and a note was signed for the balance. Services were rendered to customers for cash. A building was purchased for cash. Supplies were purchased for cash. Paid the office secretary's salary The amount owed on the land from Part (b) was paid. d. e