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 $64,000 cash in the company along with equipment that had a $20,000 market value in exchange for its common stock b. The company paid $1,200 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 $2,400 cash earned. e. The company completed work for a client and sent a bill for $7,000 to be received within 30 days. f. The company purchased additional equipment for $5,500 cash. g. The company paid an assistant $3,100 cash as wages for the month. h. The company collected $5,100 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. The company paid $1,800 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.) Equity Liabilities Assets Accounts Common Expenses Accounts Cash Equipment Stock Payable Receivable Dividends Revenues + . 9 of 10 e cearch 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 Common Stock Dividends Revenues Expenses a + + + b + + + Bal. 0 + 0 + 0 = 0 + 0 + 0 0 0 + + C + + 0 0 0 0 + 0 + 0 0 + 0 Bal d Bal + + + 0 + 0 0 + 0 0 0 0 0 + + + + e + + 0 + 0 0 + 0 0 Bal 0 0 0 + + + + f + + 0 + 0 0 + 0 0 0 + 0 0 Bal + + + + + g Bal 0 01 + 0 + 0 0 01 + 01 + o earch Bal. 0 + 0 + 0 0 + 0 0 + 0 f. + + + + Bal 0 + 0 + 0 0 + 0 + 10 0 0 6 + + + + Bal. 0 + 0 + 0 0 + 0 0 + 0 0 h. + + + + Bal. 0 + 0 + 0 0 + 0 0 + 0 i. + + + + Bal 0 0 + 0 + 10 0 + + 0 0 - 0 + + + + + 10 0 0 0 = 0 + - + $ 0 0 $ $ $ $ 0 Bal $ + $ $ + arch