Katy Williams is the manager of Blue Light Arcade The company provides entertainment for parties and special events. For each of the following transactions of Katy Williams, give the accounting equation effects of the adjustments required (Enter any decreases to account balances with a minus sign.) Blue Light Arcade received $52 cash on account for a birthday party held two months ago Agreed to hire a new employee at a monthly salary of $3, 050. The employee starts work next month. Paid $2.050 for a table top hockey game purchased last month on account d Repaid a $5,050 bank loan that had been outstanding for six months (Ignore interest) The company purchased an air hockey table for $2, 500. paying $1 100 cash and signing a short-term note for $1, 400