May 1, 2022 following transaction occurred during the month of may.

1) Stockholders invested $21,450 cash in the business in exchange for common stock

2) Paid $858 for office rent for the month

3 Purchased $715 of supplies on account

5 paid $214 to advertise in the county news

9 received $2002 cash for service performed

12 paid $286 cash dividend

15 performed $6006 of service on account

17 paid $3575 for employee salaries

20 paid for the supplies supplies purchased on account on may 3

23 received a cash payment of $1,716 for services performed on account on May 3

26 barrowed $7150 from the bank on a note payable

29 purchased office equipment for $2860 paying $286 in cash and the balance on account

30 Paid $257 for utilities

Show the effects of the transaction on the accounting equation. Assume the note payable is to be repaired within the year.