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 $59,000 cash in the company along with equipment that had a $14,000 market value in exchange for its common stock. b. The company paid $2,000 cash for rent of office space for the month. c. The company purchased $11,000 of additional equipment on credit (payment due within 30 days). d. The company completed work for a client and immediately collected the $2,300 cash earned. e. The company completed work for a client and sent a bill for $7,600 to be received within 30 days. f. The company purchased additional equipment for $5,800 cash. g. The company paid an assistant $3,400 cash as wages for the month. h. The company collected $4,500 cash as a partial payment for the amount owed by the client in transaction e. 1. The company paid $11,000 cash to settle the liability created in transaction c J. The company paid $1,200 cash in dividends to the owner (sole shareholder). Required: Enter the impact of each transaction on individual items of the Eccounting equation. (Enter decreases to account balances with a minus sign.) Cash Assets Accounts Receivable + Equipment Liabilities + Accounts Payable Common Stock Equity Dividends + Revenues Expenses a. $ 59,000+ b. (2,000) + + + + Bal. 57,000 + 0 + 0 0+ 0 0+ 0 0 C. + 11,000 = 11,000+ + Bal. 57,000+ 0 + 11,000 11,000+ 0 0 + 0 0 d. 2,300+ + + Bal. 59,300 + 0 + 11,000 11,000+ 0 0 + 0 - 0 0. + 8,500 + + Bal. 59,300 + 8.500+ 11,000 11,000+ 0 0+ 0 0 (5,800) . + + Bal 53,500+ 8,500+ 11,000 W 11,000+ 0 0 + 0 0 9 (3,400) + + + + Bal. 50,100+ 8,500+ 11,000 11,000+ 0 0 + 0 0 h. 4,500 + (4,500) + Bal. 54,600 4,000+ 11,000 11,000 + 0 + 0+ L (11,000) + + + + Bal. 43,600 + 4,000+ 11,000 11,000+ 0 - 0 0 0 (1,700)+ " + - 1,700+ - Bal $ 41,900 $ 4,000 + $11,000 $ 11,000+ $ - $ 1,700+ $ 0 $