Lita Lopez started Biz Consulting a new business, and completed the following transactions during its first year of operations. a. Lita Lopez invested $70,000 cash and office equipment valued at $10,000 in the company. b. The company purchased an office suite for $40,000 cash. c. The company purchased office equipment for $15,000 cash. d. The company purchased $1,200 of office supplies and $1.700 of office equipment on credit. e. The company paid a local newspaper $500 cash for printing an announcement of the office's opening. f. The company completed a financial plan for a client and billed that client $2,800 for the service. 9. The company designed a financial plan for another client and immediately collected a $4.000 cash fee. h. Lita Lopez withdrew $3,275 cash from the company for personal use. 1. The company received $1,800 cash as partial payment from the client described in transaction f. j. The company made a partial payment of $700 cash on the equipment purchased in transaction d. k. The company paid $1,800 cash for the office secretary's wages for this period. Required: 1. Enter the amount of each transaction on individual items of the accounting equation (Reductions in account balances should be indicated with a minus sign.) Assets Office Supplies Accounts Receivable Llabilities Accounts Payable Equity L. Lopez Ro Withdrawals Cash Office Equipment $ 10,000+ Office Suite L Lopez Capital $ 80,000 a $ + + + + . + b b 70,000 + (40,000) 30,000 + + 40,000 40,000 111 + 0 Bal 0 0 + 80,000 + 10,000+ AMELING Cash Accounts Receivable Assets Office Supplies Office Suite L Lopes Omice Equipment 10,000 Accounts Payable Equity L Lopet withdrawal Revenue Expenses . $ Capital 30,000 . 5 . . 30 points + . 70.000 (40.000) 30,000 (15.000)- 15.000 0+ 10 40,000 40,000 0 + 80,000 0+ 0 0 + . . 0 . 0 40.000 80.000 - 0 ol 0 - . 10,000+ 15,000+ 25,000 1.700 - 26.700 . 26,700 0- 2.900 2.000 . -10 0. 40.000 80.000 ol O O 15,000 (500) 14,500 - . 0. O. 40.000 2.000 30.000 O. 01 . . . 2.300+ 2.800 O. 26.700 40,000 - 2,000 0.000 O D . 2.8001 - 2.000- 4,000 - 6.000 - . 2,000 0 26,700 40,000 - 2.900 80,000 0 + . . . 0 3.275 3.275 - ol 26.700 40,000 2.000 80,000 6,800 - 0 14.500 4.000 18.500 (3.275 15.225 1.800 17,025 (700) 16.325 - (1.800) 14,525 - 2.800 (1,800) 1.000 - . 0. 26.700. 40.000 2,000 80.000 3.275+ 8.800 - O GOLD 1,000 0 + 26.700 40.000- 2.900 + 80.000 3275 + + + + 6,500 - . $ 1,000+ $ O + $ 26,700 $ 40.000 2.900 $ 80,000 $ 3.275 - 6.800 $ 0