For each transaction, describe the dual effect on the accounting equation. For example in the first transaction, (1) assets increase and (2) stockholders' equity increases. E2-4 Boilermaker House Painting Company incurs the following transactions for September 1. Paint houses in the current month for $15,000 on account. 2. Purchase painting equipment for $16,000 cash. 3. Purchase office supplies on account for $2,500. 4. Pay employee salaries of $3,200 for the current month. 5. Purchase advertising to appear in the current month, $1,200. 6. Pay office rent of $4,400 for the current month. 7. Receive $10,000 from customers in (1) above. 8. Receive cash of $5,000 in advance from a customer who plans to have his house painted in the following month. Required: For each transaction, describe the dual effect on the accounting equation. For example, for the first transaction, (1) assets increase and (2) stockholders' equity increases. F2-5 At the beginning of April. Owl Corporation has a balance of $13,000 in the Retained