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 $66,000 cash in the company along with equipment that had a $10,000 market value in exchange for its common stock. b. The company paid $1,100 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 $1,700 cash earned. e. The company completed work for a client and sent a bill for $8,200 to be received within 30 days. f. The company purchased additional equipment for $6,300 cash. g. The company paid an assistant $2,900 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. i. The company paid $10,000 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 accounting equation. (Enter decreases to account balances with a minus sign.) Equity Assets Accounts Cash + Receivable + = Liabilities + Accounts Common Equipment = Payable Stock + Dividends + Revenues - Expenses + + a. b. Bal. + + + 0 + 0 + 0= 0 + 0 01+ 0 0 + + + + 01 + 0 + 0+ 0= 0 + 0 0 0 + + + + 01+ 0 + 0+ 0 = 0 + 0 0 0 C. Bal. d. Bal. e. Bal. f. Bal. + + + + 01+ 0 + 0 + 0= 0+ 0 0 0 + + + 01 + + 01+ 01 + 0+ O= 0 0 0 + + + + 0 + 01+ 0= 01- 0 + 01- 0 + + g. Bal. h. Bal. i. Bal. 0 + + 0 + + 01+ 0 + 01+ 0 0 0 0 + + + 0 + 0+ 0 0 0 + 0 0 0 + + + + + Bal.] $ 0 + $ 0 + $ 0= $ 0+ $ 0 $ 0+ $ 0 $ 0