Exercise 2.5 (Static) Determining the effects of transactions on the accounting equation. LO 2-1, 2-2, 2-3 The Business Center had the transactions listed below during the month of June. TRANSACTIONS 1. Jesse Campbell started the business with a cash investment of $120,000. 2. Purchased equipment for $44,000 on credit. 3. Performed services for $6,200 in cash. 4. Purchased additional equipment for $9,200 in cash. 5. Performed services for $10,100 on credit. 6. Paid salaries of $8,900 to employees. 7. Received $6,400 cash from charge account customers. 8. Paid $26,000 to a creditor on account. Show how each transaction would be recorded in the accounting equation. (Enter decreases to account balances with a minus sign.)