Exercise 156 Analyze the following transactions in terms of their effect on the basic accounting equation. (1) Issued stock to investors for $20,000 in cash. (2) Purchased supplies on credit for $700. (3) Billed customers $1,000 for services provided. (4) Paid for supplies purchased in transaction 2. (5) Paid dividends of $300 cash to stockholders. (6) Received half of amount due from customers billed in transaction 3. (7) Received and paid utility bill for $100. Record each transaction by increasing (+) or decreasing (-) the dollar amount of each item affected. Indicate the new balance of each item after a transaction is recorded. (If balance after calculations is o then please enter o for that field and all successive fields for Balance for the respective column.) Transaction Cash + Accounts Receivable + Supplies - Accounts Payable + Common Stock + Retained Earnings 20000 Balance 20000 UU