Effect of Transactions on Accounting Equation Jay Pembroke started a business. During the first month (April 20.), the following transactions occurred. a. Invested cash in business, $17,500 b. Bought office supplies for $4,800: $2,100 in cash and $2,700 on account. c. Paid one year insurance premium, $1,300, d. Earned revenues totaling $3,300: $1,500 in cash and $1,800 on account. e. Paid cash on account to the company that supplied the office supplies in transaction (b), $2,450. f. Paid office rent for the month, $800 9. Withdrew cash for personal use, 5150 Required: Show the effect of each transaction on the individual accounts of the expanded accounting equation: Assets Liabilities + Owner's Equity (Capital Dr Expenses). After transaction (o), report the totals for each element. Use the minus sign to indicate a decrease or reduction in the account. If an amount entry, leave it blank