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. Transactions (1) (2) (3) (5) (6) (7) (8) (9) 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. utility expenses for month on account. $500. -/325 stion 2 of 23 w + Accounts Receivable Supplies -Cash Transactions $ $ $ 1. Balance 2. Balance 3. Balance 4. Balance 5. Balance 6. o Bi -/32 Question 2 of 23 Balance 6. Balance 7. Balance 8 Balance 9. Balance $ $ 10. $ $ Totals Submit Answer Attempts: 0 of 1 used -/32 Accounts Payable Owner's Capital Equipment = $ $ $