ABC Company paid $20,000 cash to buy equipment. Indicate the amounts, and direction of the effects on the accounting equation... Assets Liabilities Shareholders' Equity + Use the following Chart of Accounts to complete the journal entry Chart of Accounts for XYZ Company Cash Accounts Receivable Prepaid Insurance Equipment Land Accounts Payable Bank Loan Payable Contributed Capital Service Revenue Advertising Expense Telephone Expense Utilities Expense Wages Expense Borrowed $5,000 from a local bank due in six months. GENERAL JOURNAL Accounts and Ref Debit Credit Description 5.000 5,000 PhotoGrid