M. Bonzales has the following transactions during August of the current year. Indicate the effect on the accounting equation and on the debit-credit analysis. Aug. 1 Opens an office as a financial advisor, investing $8,000 in cash. Pays insurance in advance for 6 months, $1,800 cash. Receives $3,600 from clients for services performed. Pays secretary $1,000 salary. 4. 16 27