Debit and Credit Effect on TransactionsJefferson Framers engaged in the following transactions:Purchased land for $$64,200$ cash.Purchased equipment for $$26,900$ in exchange for a $1-$year, $8\%$ note payable.Purchased office supplies on credit for $$1,160$ from Office Depot.Paid $$20,300$ principal plus $$690$ interest on a note payable.Paid an account payable in the amount of $$3,600.$Provided $$62,000$ of services on credit.Provided $$13,100$ of services for cash.Collected $$27,610$ of accounts receivable.Paid $$13,360$ of wages in cash.Issued common stock for $$44,800$ cash.