Angela Peterson recently opened her own law office on March 1, which she operates as a corporation. The name of the new entity is Angela Peterson, attorney. Peterson experienced the following events during the organizing phase of the new business and its first month of operation, March 2024. Some of the events were personally do not affect the law practice. Others were business transactions and should be accounted for by the business.

analyze the facts of the preceding events on the accounting equation of Angela Peterson, attorney.

Analyze the events, chronologically, one transaction at a time, beginning with the transaction on the 1st. For each transaction that follows the transaction on the 1st, calculate the balance in each account after analyzing it's effects on the accounting equation. After calculating the ending balance of each account on the 31st, calculate total assets and total liabilities and equity.

Mar. 1 Sold personal investment in Amazon stock, which she had owned for several years, receiving $36,000 cash. Mar.2 Deposited the $36,000 cash from the sale of the Amazon stock in her personal bank account. Mar. 3 Deposited $80,000 cash in a new business bank account titled Angela Peterson. Attorney The business issued common stock to Peterson. Mar. 5 Paid $750 cash for ink cartridges for the printer Mar. 7 Purchased computer for the law office, agreeing to pay the account, $7,000, within three months Mar. 9 Received \$2,500 cash from customers for services rendered. Mar. 15 Received bill from The Lawyer for magazine subscription, $300. (Use Miscellaneous Expense account) Mar. 23 Finished court hearings on behalf of a client and submitted a bill for legal services, $19,000, on account Mar. 28 Paid bill from The Lawyer: Mar. 30 Paid utilities, $1,050 Mar. 31 Received \$2.900 cash from clients billed on March 23 Mar. 31 Cash dividends of $4,500 were paid to stockholders