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 $68,000 cash in the company along with equipment that had a $29,000 market value in exchange for its common stock. b. The company paid $2,100 cash for rent of office space for the month. c. The company purchased $10,000 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 $9,000 to be received within 30 days. f. The company purchased additional equipment for $6,100 cash g. The company paid an assistant $3,000 cash as wages for the month. h. The company collected $5,300 cash as a partial payment for the amount owed by the client in transaction e i. The company paid $10,000 cash to settle the liability created in transaction c j. The company paid $1,100 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 Accounts Cash Receivable Liabilities Equity Equipment Accounts Payable Common Stock Dividends Revenues Expenses a + + + . lb. + + - + Bal 0+ 0+ 0 0 . 0 0 + 0 0 C + + + Bal 0+ 0 0 0 + 0 10+ 0 d + + + Bal 0 0+ 0 0+ 0 0+ 0- 01 + + + Bal 0 + + 0 . . 0 0+ 0- 0 + + Bal 0 0 . 0 0 0- 0 . 0 0 N Bal 0+ 0+ 0 M 0- +