Analyze each of the following transactions by showing its effects on the accounting equation$-$specifically, identify the accounts and amounts $($including $+$ or $-)$ for each.

January $1$ Purchased equipment for $$43,000$ cash. Estimated useful life is six years and salvage value is $$10,320$

January $2$ Paid $$8,600$ cash to install automated controls on equipment. This betterment did not impact useful life or salvage value. August $15$ Paid $$340$ cash for minor repair costs to equipment.