On June 1 of the current year, Chad Wilson established a business to manage rental property. He completed the following transactions during June: Opened a business bank account with a deposit of $34,000 from personal funds. Purchased office supplies on account, $2,120. Received cash from fees earned for managing rental property, $5,800. Paid rent on office and equipment for the month, $2,600. Paid creditors on account, $960. Indicate for each transaction how it would affect the accounting equation (assets= liabilities+owner's equity)

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