It is the first day of the month. Record the impact of the following transactions in a journal using the equation method: You hire an administrative assistant, promising to pay them a monthly wage of $4,300; You borrow $5,100 from a bank at an annual interest rate of 6%; You purchase equipment costing $5,800 on account, and estimate that it has a salvage value of $200 and a useful life of 4 years. When this is complete, also record all adjusting entries that would be needed at the end of the month in order to report financial statements. You did not receive a bill from the bank, but you did pay both the administrative assistant and the equipment account before the end of the month.

Assets		= Liabilities		+ Equity
				Contributed		Earned
Name	Amount	Name	Amount	Name	Amount	Name	Amount