dog training business began on December 1. Use additions and subtractions to show the dollar effects of each ransaction on individual items of the accounting equation. Note: Enter decreases to account balances with a minus sign. December 1 Receives $20,000 cash as an owner investment in exchange for common stock. December 2 Pays $6,000 cash for equipment. December 3 Pays $3,600 cash (insurance premium) for a 12-month insurance policy. Coverage began on December 1. December 4 Pays $1,000 cash for December rent expense. December 7 Provides all-day training services for a large group and immediately collects $1,100 cash. December 8 Pays $200 cash in wages for part-time help