Owner's Equity Assets = Liabilities + Accounts Accounts Marie Cantu, Receivable + Equipment - Payable Capital $4,000 + $30,000 - $20,000 + $55,000 + Revenue $ 0 - 6,000 Expenses $ 0 + 3,900 Cash + Bal. $41,000+ 1. 6,000 2. -3,900 3. -2,100 -3,455 5. 900 6. 7. -2,160 -2,100 3,455 -900 6,690 6,690 2,160 The above equation shows the effects of a number of transactions that took place at Cantu Auto Repair Company during the month of July. Describe each transaction 1. 2. Equipment was purchased for cash. 3. A payment was made on the amount owed to a creditor 4. 5. 6. 7