Instructions List the numbers of the above transactions and describe the effect of each transaction on assets, liabilities, and owner's equity. For example, the first answer is: (1) Increase in assets and increase in owner's equity. E17 (LO 4) Falske Computer Timeshare Company entered into the following transactions during May 2020. Analyze the effect of transactions on assets, liabilities, and owner's equity. 1. Purchased computers for $20,000 from Digital Equipment on account. 2. Paid $4,000 cash for May rent on storage space. 3. Received $17,000 cash from customers for contracts billed in April. 4. Performed computer services for Viking Construction Company for $4,000 cash 5. Paid Tri-State Power Co. $11,000 cash for energy usage in May. 6. Falske invested an additional $29,000 in the business 7. Paid Digital Equipment for the computers purchased in (1) above. 8. Incurred advertising expense for May of $1,200 on account Instructions Indicate with the appropriate letter whether each of the transactions above results in: today lock 220 by the like you leavel