Effects Of Transactions $($Balance Sheet Accounts$)$

John Sullivan started a business. During the first month $($February $20--),$ the following transactions occurred. Show the effect of each transaction on the accounting equation: Assets $=$ Liabilities $+$ Owner's Equity. After each transaction, show the new totals. Use the minus sign to indicate a decrease or reduction in the account. If an amount box does not require an entry, leave it blank.