mework Ming Chen began a professional practice on June 1 and plans to prepare financial statements at the end of each month. During June, Ming Chen (the owner) completed these transactions a. Owner invested $61,000 cash in the company along with equipment that had a $13,000 market value in exchange for its common stock b. The company paid $3,000 cash for rent of office space for the month c. The company purchased $18,000 of additional equipment on credit (payment due within 30 days) d. The company completed work for a client and immediately collected the $1,600 cash earned e. The company completed work for a client and sent a bill for $8.500 to be received within 30 days. 1. The company purchased additional equipment for $5,100 cash 9. The company paid an assistant $2,000 cash as wages for the month. h. The company collected $5,700 cash as a partial payment for the amount owed by the client in transaction e L. The company paid $18,000 cash to settle the liability created in transactionc J. The company paid $1.400 cash in dividends to the owner (sole shareholder) Required: Enter the impact of each transaction on individual items of the accounting equation (Enter decreases to account balances with a minus sign) Assets Equity Cash Accounts Receivable + Equipment Accounts Payable Common Stock Dividends Revenues Expenses a + + b + 0+ Ral o + 0 + 0- 0 - 0 + c Bar 0 + 0 0 0 + 0 0 0 - + d B 0 + 0 0 + 0 + 0 O e . + . Bal 0 - 0 + 0 + 0 - 0 f + Bal 0 0 0 o + 0 - 0 + Bal 0 O 0 0 0 + 0 - 0 + . + h B 0 + 0 + 0 = + 0 0 + 0 0 + RN 0 + 0 0 O + 0 0 + O 0 + + + B $ 0+ $ 0 $ 0 3 OL $ 0. $ 0 + $ 0 - $ 0 search O ALI