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:

1. Provide services to customers on account for $42,000.
2. Receive cash of $34,000 from customers in (a) above.
3. Purchase bike equipment by signing a note with the bank for $27,000.
4. Pay utilities of $4,200 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.)