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 $62,000 cash in the company along with equipment that had a $23,000 market value. b. The company paid $1,900 cash for rent of office space for the month. c. The company purchased $15,000 of additional equipment on credit (payment due within 30 days). d. The company completed work for a client and immediately collected the $1,800 cash earned. e. The company completed work for a client and sent a bill for $8,100 to be received within 30 days. f. The company purchased additional equipment for $6,800 cash. g. The company paid an assistant $3,800 cash as wages for the month. h. The company collected $4,100 cash as a partial payment for the amount owed by the client in transaction e. i. The company paid $15,000 cash to settle the liability created in transaction c. j. Owner withdrew $1,000 cash from the company for personal use. Required: Enter the impact of each transaction on individual items of the accounting equation. (Enter decreases to account balances with a minus sign.) Assets Liabilities + Equity Cash + Accounts Receivable + Equipment = Accounts Payable + M. Chen, Capital M. Chen, Withdrawals + Revenues Expenses a. + + + + b. + + = + + Bal. 0 + 0 + 0 = 0 0 0 + + 0 0 c. + + + + - Bal. 0 + 0 + 0 0 + 0 0 + 0 0 d. + + = + + Bal. 0 + 0 + 0 0 + 0 0 + 0 0 e. + + + + Bal. 0 + 0 + 0 0 + 0 0 + 0 0 f. + + + + Bal. 0 0 + 0 + = 0 + 0 0 + 0 0 g. + + + + Bal. 0 + 0 + 0 = 0 + 0 0 + 0 0 h. + + + + Bal. 0 + 0 + 0 = 0 + 0 0 + 0 0 i. + + + + Bal. 0 + 0 + 0 0 + 0 0 + 0 0 . + + + + - Bal. $ 0 + $ 0 + $ 0 = $ 0 + $ 0 $ 0 + $ 0 $ 0