Exercise NO 5-1 Rabayaa started his business on June 1, 2013. The following Transactions occurred during the month of June, Describe the effect on the accounting equation by basic analysis June 1) Shareholders invested 17,000$ Cash in business in exchange for ordinary shares June 2) Company Purchased Equipment for 5,000$ Cash June 3) Purchased a van for deliveries for $12,000. Rabayaa paid $2,000 cash and signed note payable for the remaining balance. June 6) Performed 4,400$ of service on account. June 9) Incurred $250 of advertising costs in Yazan News's on account. June 12) Received 5,100$ in Cash from customers for repair service June 16) Received a cash payment of 1,250$ for service provided on June 6 June 20) Paid Utility bills of 150$ June 25) Paid 1,000$ for employee salaries June 27) Made cash payment of 500$ on the note payable June 28) Received a cash payment of 1,500$ for services provided June 29) Paid 500$ for office rent for the month June 30) Collected 5,000$ of accounts receivable June 30) Received 5,000$ from customer for future service