Analyze the effect of each transaction on the accounting equation. For example, if salaries of $500 were paid, the answer would be "Decrease in stockholders' equity (expense) $500 and decrease in assets (cash) $500." a. Performed consulting services for a client in exchange for $3,200 cash. $3,200and $3,200. b. Performed consulting services for a client on account, $1,700. $1,700and $1,700. c. Paid $30,000 cash for land. $30,000and $30,000. d. Purchased office supplies on account, $900. $900 and $900. e. Paid a $2,500 cash dividend to stockholders. $2,500and $2,500. f. Paid $550 on account for supplies purchased in Transaction d. $550and $550. g. Paid $800 cash for the current month's rent. $800and $800. h. Collected $1,500 from a client who was billed last month. $1,500and $1,500. i. Stockholders invested $20,000 cash in the business. $20,000and $20,000. 2. Conceptual Connection: For Event d, what accounting principle did you use to determine the amount to be recorded for supplies