8. Daniels Company is owned and operated by Thomas Daniels. The following selected transactions were completed by Daniels Company during May: 11. Received cash from owner as additional investment $55,000. 2. Paid creditors on account $7,000. |3. Billed customers for services on account, $2,565. 4. Received cash from customers on accounts $8,450. 5. Paid cash to owner for personal use, $2,500. 16. Received the utility bill $160, to be paid next month. g . Indicate the effect of each transaction on the accounting equation: 1)By Account type - (A)assets, (L.)liabilities, (O)owner's (E)equity, (R)revenue, land (E)expense 2) Name of Account for the entry 3) The amount by of the transaction 4) Indicate the specific item within the account equation element that is affected. Note: Each transaction has two entries. Acct Type Entry Name of Amount|Increase or Acct Acct Decrease Type Entry Name of Amount Increase or Acct Decrease (4) (2) (3) (1) (2) (3) (1)