Brief Exercise 2-4 Analyze the impact of transactions on the accounting equation (LO2-2) The following transactions occur for Badger Biking Company during the month of June: a. Provide services to customers on account for $50,000. b. Receive cash of $42,000 from customers in (a) above. c. Purchase bike equipment by signing a note with the bank for $35,000. d. Pay utilities of $5,000 for the current month. Analyze each transaction and indicate the amount of increases and decreases in the accounting equation. (Decreases to account classifications should be entered as a negative.) Transaction Assets Liabilities Stockholders' Equity (b) increase (b) decrease (c) (d)