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 $$30,000$ cash. Estimated useful life is six years and salvage value is $$7,200.$

January $2$ Paid $$6,000$ cash to install automated controls on equipment. This betterment did not impact useful life or salvage value.

August $15$ Paid $$240$ cash for minor repair costs to equipment.