Patricia Johnson started her own consulting firm, Johnson Corsulting Inc., on May $1,2027.$ The following transactions occurred during the month of May$-$

May $1$ Stackhalders invested $$12,300$ cash in the business in exchange for common stock.

$2$ Paid $$492$ for office rent for the month.

$3$ Purchased $$410$ of supplies con account.

$5$ Paid $$123$ to advertise for the month in the County News.

$9$ Performed services for customer for $$1,149$ cash

$12$ Paid $$164$ cash dividend.

$15$ Performed $$3,444$ of services on account.

$17$ Paid $$2,050$ for employee salaries.

$20$ Paid for the supplies purchased on account on May $3.$

$23$ Received a cash payment of $$984$ for services performed on account on May $15.$

$26$ Borrowed $$4,100$ from the bank on a note payable.

$29$ Purchased office equipment for $$1,640$ paying $$164$ in cash and the balance on account.

$30$ Paid $$148$ for utilities.

$($a$)$

Show the effects of the above transactions on the accounting equation using the following format. Assume the note payable is to be repaid within the year. Include margin explanations for any changes in revernues or expenses.

Decreases in assets, llabilities, or stockhoiders' equity require a negative sign ar parentheses.

Increoses in expenses require a negative sign or parentheses.

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List of Accounts

$($b$1)$

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