Bridge port Delivery Service is owned and operated by Jerome Foley. The following selected transactions were completed by Bridgeport Delivery Service during February:

1. Received cash from owner as additional investment, $40,000.

2. Billed customers for delivery services on account, $13,750.

3. Paid creditors on account, $2,500.

4. Received cash from customers on account, $9,000.

5. Paid cash to owner for personal use, $1,000.

Indicate the effect of each transaction on the accounting equation elements ( Assests, Liabilities, Owners 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) Assets (Cash) increase by $40,000; Owners Equity ( Jerome Foley, capital) increase by $40,000.