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 $4,600: $1,800 in cash and $2,800 on account. c. Paid one-year insurance premium, $1,100. d. Earned revenues totaling $3,100: $1,100 in cash and $2,000 on account. e. Paid cash on account to the company that supplied the office supplies in transaction (b), $2,550. f. Paid office rent for the month, $900. g. Withdrew cash for personal use, $150.

reauife an entrv. leave it bark. Effect of Transactions on Accounting Equation Jay Pembroke started a business. During the first month (Apeil 20-.), the following transactions cccurred. a. Invested cash in busineis, $17,500. b. Bought office supplies for $4,600:$1,800 in cash and $2,800 on account c. Paid one-year insurance premium, $1,100. d. Earned revenues totaling $3,100:$1,100 in cash and $2,000 on account. e. Paid cash en account to the compary that supplied the elfice supplies in transaction (b), 52,550 . f. Paid office rent for the month, 5900. g. Withdrew cash for personal use, $150. Demonstrate that the accounting equation has remained in balance