Donald Martin decides to open a cleaning and laundry service near the local college campus that will operate as a proprietorship. The transactions for the month of June are listed below: 1. Donald Martin invests $30,000 in cash to start a cleaning and laundry business on June 1. 2. Purchased equipment for $8,600 paying $3,500 in cash and the remainder due in 30 days. 3. Purchased supplies for $1,300 cash. 4. Received a bill from Campus News for $500 for advertising in the campus newspaper. 5. Provided $1,600 of services to customers for cash. 6. Paid salaries of $260 to student workers. 7. Billed the Tiger Football Team $130 for services. 8. Paid $500 to Campus News for advertising that was previously billed in Transaction 4 . 9. Donald Martin withdrew $740 from the business for living expenses. 10. Incurred utility expenses for month on account, $460. Analyze the transactions above in terms of their effect on the basic accounting equation. Record each transaction by increasing (+) or decreasing (-) the dollar amount of each item affected. Total and balance the equation at the end of the month. (If a transaction results in a decrease in Assets, Liabilities or Owner's Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.)