A Bank of America Saved Help Save & Exit Su Ming Chen began a professional practice on June 1 and plans to prepare financial statements at the end of each month. During June, Ming Chen (the owner) completed these transactions. a. Owner invested $68,000 cash in the company along with equipment that had a $29,000 market value in exchange for its common stock b. The company paid $2,100 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 the $1,600 cash earned. e. The company completed work for a client and sent a bill for $9,000 to be received within 30 days. f. The company purchased additional equipment for $6,100 cash. g. The company paid an assistant $3,000 cash as wages for the month. h. The company collected $5,300 cash as a partial payment for the amount owed by the client in transaction e. I. The company paid $10,000 cash to settle the liability created in transaction c. J. The company paid $1,100 cash in dividends to the owner (sole shareholder). Required: Enter the impact of each transaction on individual items of the accounting equation (Enter decreases to account balances with a minus sign.) + Equity Assets = Liabilities Accounts Receivable + Equipment = Accounts Payable Cash + Common Stock Dividends + Revenues - Expenses Prey 1 of 1 Next Cash Receivable Equip DIVERS Payable Stock + + Bal. + + 0 Bal d. Balo 0 Bal 0 + 0 = TS 0S 0S Ral OL