ASSETS LIABILITIES + + EQUITY Lemon, Service Withdrawals Revenue Lemon, Accounts Cash + Accounts + Equipment Salaries Expense Receivable Payable Capital +31,000 1 +31,000 +3,800 +3,800 2 Bal. $31,000+ $3,800 + $31,000 $3,800 +13,400 +13,400 3 $13,400 + $13,400 - $3,800 $31,000 Bal. $31,000+ +190 4 $3,800 -190 $3,610 + $13,400 $3,800 $31,000 Bal. $31,190 + 5 -410 $13,400 - +410 + $3,610 + $13,810 - $3,800 $31,000 Bal. $30.780 + 6 -8,000 $13,400+ -8,000 $3,610 + $13,810 - $5,400 + $31,000 Bal$22,780 + 7 +790 $3,800 +790 $3,610 + $13.810 = $5,400 + $31,000 $4,590 1,500 Bal $23,570 + 8 -1,500 Bal. $22,070 $3,610 $13,810 $5,400 $31,000 $4,590 $1,500 The analysis of the first eight transactions of Advanced Accounting Service follows. Describe each transaction Click the icon to view the transactions.) 1. Cash purchase of equipment Collected cash on account Contribution by the owner Drawings Earned revenue and received cash Earned revenue on account Investment by the owner Paid cash for salaries expense Paid cash on account Purchased equipment on account