ANDERSON ELECTRIC

Transactions

December

1. Transferred into business account 68,800

2, Cash paid for month's rent 1,800

3. Cash paid for electrical equipment 4,800

3. Total paid for electrical equipment 13,000

5 .Cash paid for office supplies 1,000

6. Amount collected for work completed 1,600

8 Office equipment purchased on credit 2,680

15. Completed work on credit 6,000

18. Office supplies purchased on credit 360

20. Cash paid for office equipment purchased 2,680 December 8

24. Billed client for work completed 1,000

28. Received for December 15th work 6,000

29. Paid assistant's salary 1,500

30. Paid monthly utility bill 570

31. Withdrew for personal use 900

Question: Assume Helga Anderson contributed $49,000 cash and borrowed the $19,800 difference from a bank. Explain the effect of this change on total assets, liabilities, and equity.