Exercise 2.5 (Algo) Determining the effects of transactions on the accounting equation. LO 2-1, 2-2, 2 The Business Resource Center had the transactions listed below during the month of June. TRANSACTIONS 1. Justin Cole started the business with a cash investment of $42,000. 2. Purchased equipment for $13,000 on credit. 3. Performed services for $3,900 in cash. 4. Purchased additional equipment for $2,800 in cash. 5. Performed services for $4,150 on credit. 6. Paid salaries of $3,550 to employees. 7. Received $1,400 cash from charge account customers. 8. Paid $5,800 to a creditor on account. Show how each transaction would be recorded in the accounting equation. Note: Enter decreases to account balances with a minus sign