Downtown Company entered into these transactions during May 2007. 1. Purchased computers for office use for $35,000 from Dell on account. 2. Paid $4,000 cash for May rent on storage space. 3. Received $12,000 cash from customers for contracts billed in April. 4. Provided computer services to Brieske Construction Company for $5,000 cash. 5. Paid Southern States Power Co. $11,000 cash for energy usage in May. 6. Stockholders invested an additional $30,000 in the business in exchange for common stock of the company. 7. Paid Dell for the terminals purchased in (1). 8. Incurred advertising expense for May of $1,000 on account. Using the following tabular analysis, show the effect of each transaction on the accounting equation. (If there is no amount for a box enter 0. All boxes must be filled. If entering a negative number use negative (-) sign preceding the number. ) Assets = Liabilities + Stockholders' Equity Cash +Accounts Receivable +Office Equipment =Accounts Payable +Common Stock + Retained Earnings 1. 2. 3. 4. 5. 6. 7. 8. Totals