Analyze each of the following transactions by showing its effects on the accounting equation-specifically, identify the accounts and amounts (including + or -) for each. Jan. 1 Purchased equipment for $25,000 cash. Estimated useful life is six years and salvage value is $6,000. Jan. 2 Paid $5,000 cash to install automated controls on equipment. This betterment did not impact useful life or salvage value. Aug.15 Paid $200 cash for minor repair costs to equipment. Date Jan. 1 Jan. 2 Aug. 15 Assets Liabilities