INE - April 5th - 11:59 p.m. Question 7 of 15 -18 Transactions made by A. David and Co., a law firm, for the month of March are shown below. The company performed $62,000 of services for customers, on credit. The company received $62,000 in cash from customers who had been billed for services (in transaction 1). AW N The company received a bill for $3,800 of advertising but will not pay it until a later date. A. David withdrew $5,200 cash from the business for personal use. Prepare a tabular analysis which shows the effects of these transactions on the expanded accounting equation. (If a transaction results In a decrease In Assets, Liabilities or Owner's Equity, place a negative sign (or parentheses) In front of the amount entered for the particular Asset, Liability or Equity Item that was reduced. See Illustration 1-8 for example.) Assets Liabilities Accounts Accounts Owner's Cash Receivable Payable Capital $ $ (1) (2) $ 9 M 7 4 5 O y U e K d g h