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 $$44,000$ cash. Estimated useful life is six years and salvage value is $$10,560.$

January $2$ Paid $$8,800$ cash to install automated controls on equipment. This betterment did not impact useful life or

salvage value.

August $15$ Paid $$350$ cash for minor repair costs to equipment.