During the month, a company enters into the following transactions a. Borrows $3,200 of cash from the bank by signing a formal agreement to repay the loan in 2 years. b. Buys $4,000 of new equipment on account c. Pays off $2,400 of accounts payable. d. Pays off $1,200 of notes payable Required: a. Show the effect of these transactions on the basic accounting equation. b. Prepare the journal entries that would be used to record the transactions Complete this question by entering your answers in the tabs below. Required A Required B Show the eifect f theae ranacns on the baic accutn tion enter any decreases te of these transactions on the basic accounting equation. (Enter any decreases to account balances w Transaction Analysis