Effects of Transactions on accounting equation DIT Delivery Service had the following selected transactions during November. Indicate the effect of each transaction on the accounting equation. 1. Received cash from issuance of common stock, $37,500. 2. Paid rent expense for November, $2,500. 3. Paid advertising expense, $1,500. 4. Received cash for providing delivery services, $17,250. 5. Borrowed $5,000 from Second National Bank to finance its operations. 6. Purchased a delivery van for cash, $12,500. 7. Paid interest on note from Second National Bank, $50. S. Paid salaries and wages for November, $5,000