Arrowhead Delivery Service is owned and operated by Gates Deeter. The following selected transactions were completed by Arrowhead Delivery Service during August: Indicate the effect of each transaction on the accounting equation elements (Assets, Liabilities, owner's Equity, Drawing, Revenue, and Expense). Also indicate the specific item within the accounting equation element that is affected. To illustrate the answer to (1) follows: (1) Asset (Cash) Increases by $25,000; Owner's Equity (Gates Deeter, Capital) Increases by $25,000 Element Item Direction Asset 1. Received cash from owner as additional Investment, $25,000 Cash Increases Owner's Equity Gates Deeter, Capital Increases 2. Paid creditors on account, $3,750, Asset > 3. Billed customers for delivery services on account, $22,400. Drawing Expense 4. Recelved cash from customers on account, $11,300. Owner's Equity Revenue 5. Pald cash to owner for personal use, $6,000