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Assume Downer,com was organized on May 1, to compete with Despair, Inc,-a company that sells de-motivational posters and office products. The following events occurred during

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Assume Downer,com was organized on May 1, to compete with Despair, Inc,-a company that sells de-motivational posters and office products. The following events occurred during the first month of Downer.com's operations. a. Recelved $62,000 cash from the investors who organized Downer.com Corporation. b. Borrowed $21,000 cash and signed a note due in two years. c. Ordered computer equipment costing $16,500. d. Purchased $9,500 in equipment, paying $2,200 in cash and signing a six-month note for the balance. e. Recelved the equipment ordered in (c). paid for half of it, and put the rest on account. Required: 1. For each of the events (a) through (c), perform transaction analysis and indicate the amount of effect on the accounting equation. (Enter any decreases to account balances with a minus sign.)

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