Chase Tumner started a new business, Turner Gymnastics, and completed the following transactions during December i (Click the icon to view the transactions.) Analyze the effects of the transactions on the accounting equation of Turner Gymnastics. Use the following accounts: Cash, Accounts Receivable, Office Supplies, Accounts Payable, Common Stock, Dividends, Service Revenue, Rent Expense, Utilities Expense, Wages Expense, and Advertising Expense. Analyze the events chronologically, one transaction at a time, beginning with the transaction on the 1st. For each transaction that follows the transaction on the 1st, calculate the balance in each account after analyzing its effect on the accounting equation (Complete only the necessary answer boxes for your transaction lines. [Do not enter any zeros for your transaction lines.] Carry down all balances to the "B I." line, including zero balance accounts, entering a "0" for any zero balances. Enter a decrease in an account with a minus sign or parentheses. Abbreviations used: A/P = Accounts Payable; A/R = Accounts Receivable, Adv. = Advertising; Com. = Common; Contr. = Contributed; Div. = Dividends; Exp. = Expense; Liab. = Liabilities; Off. = Office; Sal. = Salaries; Serv. Rev. = Service Revenue, Sup. = Supplies, Util. = Utility.) E Assets = Liab. 12/1 12/2 Bal. 12/5 Bal 12/9 More info Dec. 1 Dec. 2 Dec. 5 Dec. 9 Contr. W Equity Received $16,000 cash from Chase in exchange for common stock. Received $2,200 cash from customers for services performed. Paid $300 cash for office supplies. Performed services for a customer and billed the customer for services rendered, $4,000. Received $300 invoice for utilities due in two weeks. Dec. 10 Dec. 15 Paid for advertising in the local paper, $325. Doc 20 Paid utility invoice received on December 10. - X Sal. Exp. - Adv. Exp.