Daniels Company is owned and operated by Thomas Daniel. The following selected Transactions were completed by Daniels Company during May Received cash from owner as additional investment $55,000 Purchased supplies on account $1.750 Paid creditors on account $750 Billed customers on account for services provided. $2,500 Paid utilities $ 600 and rent $ 450 Received $500 from customers on account Indicate the effect of inch transaction on the accounting equation: By Account type - (A)assets. (Liabilities. (O)owner's (E)equity. (R)revenue, and (E)expense Name of Account for the entry The amount by of the transaction The amount by of the transaction Indicate the specific item within the account equation element that is affected Calculate the balance for each element