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Question 3 of 7 /1 View Policies Current Attempt in Progress Transactions made by A. Thomas and Co.alaw firm for the month of March are shown as follows 1 2 The company performed $ 55.000 of services for customers, on credit The company received $ 55,000 in cash from customers who had been billed for services (in transaction 1). The company received a bill for $3.500 of advertising but will not payit until later date. A. Thomas withdrew $ 5.000 cash from the business for personal use. 3. Prepare a tabular analysis which shows the effects of these transactions on the expanded accounting equation (If a transaction results in a decrease in Assets, Liabilities or Owner's Equity, place a negative sign for parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See Illustration 1-8 for example.) Assets Liabilities Cash Accounts Receivable Accounts Payable $ $ (1) 5 $ $ 123 $ $ 13) $ $ 14) $ $ $ e Textbook and Media 4. A. Thomas withdrew $ 5.000 cash from the business for personal use. Prepare a tabular analysis which shows the effects of these transactions on the expanded accounting equation. (If a transaction results in a decrease in Assets, Liabilities ar Owner's Equity, place a negative sign for parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See Illustration 18 for example) Owner's Equity Owner's Capital Owner's Drawings Revenues Expenses $ $ $ $ $ $ I $ $ $ eTextbook and Media