Exercise 4.Perez Company had the following transactions during January:

1.Jan 1Issued $100,000 in stock to owners in exchange for cash to start the business.

2.Jan 5Borrowed $50,000 from the bank by signing a notes payable.

3.Jan 10Purchase equipment by paying cash for $25,000.

3.Jan 15Paid January rent of $2,400for the office space (hint:since this is for January, record as rent expense)

4.Jan 18 Performed services for customers and received cash immediately for $8,000.

5.Jan 20Purchased $2,000 in supplies on account.

Prepare transaction analysis for the January transactions.Remember to prove the accounting equation at the end.