Part 1: ACCOUNTING EQUATION 10 POINTS

Jan. 1, 2020 William Kelly started Kelly's Computer Service by investing $10,000.

Jan. 3 the business borrowed $10,000 from a creditor and executed a Note payable with the principal and interest to be due in one year

Jan. 5 the business purchased $12,000 of equipment for cash.

Jan. 8 Kelly's rendered service to his first corporate client and earned $2,500 in cash.

Jan. 12 Kelly's incurred repair expense of $1,200 and promised to pay the repair contractor the following month

Jan. 18 Kelly's rendered service to a new client in the amount of $6,000 "on account," (the client promised to pay the following month).

Jan 31 Kelly took a withdrawal of $1,000.

Analyze the transactions for January using the accounting equation.