Maria Martinez decides to open a cleaning and laundry service near the local college campus that will operate as a sole proprietorship. Analyze the following transactions for the month of June in terms of their effect on the basic accounting equation. Record each transaction by increasing (+) or decreasing (-) the dollar amount of each item affected. Indicate the new balance of each item after a transaction is recorded. It is not necessary to identify the cause of changes in owner's equity. (If a transaction results in a decrease in Assets, Liabilities or Owner's Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Transactions (1) (4) (5) (6) (8) (10) Maria Martinez invests $25,000 in cash to start a cleaning and laundry business on June 1 . Purchased equipment for $5,000 paying $3,500 in cash and the remainder due in 30 days. Purchased supplies for $1,200 cash. Received a bill from College Clarion for $200 for advertising in the campus newspaper. Cash receipts from customers for cleaning and laundry amounted to $2,600. Paid salaries of $600 to student workers. Billed the Tiger Tennis Team $480 for cleaning and laundry services. Paid $200 to College Clarion for advertising that was previously billed in Transaction 4. Maria Martinez withdrew $1,300 from the business for living expenses. Incurred utility expenses for month on account, $500