Points: $0$ of $1$

$17.$ Using the information provided, analyze the effects of Lawlor Lawn Service's transactions on the accounting equation.

$(2)($Click the icon to view the transactions.$)$

Analyze the events chronologically, one transaction at a time beginning with the May $1$ transaction. For each transaction that follows the May $1$ st transaction, calculate the balance in each account after analyzing its effect on the accounting equation. $($Complete only the necessary answer boxes for your transaction lines. $[$Do not enter any zeros for your transaction lines.$]$ Carry down all balances to the "Bal." line, including zero balance accounts, entering a $"0"$ for any zero balances. Enter a decrease in an account with a minus sign or parentheses. Abbreviation used: Contr. $=$ Contributed; Liab. $=$ Liabilities.$)$

ASSETS $=$

$=$ LIAB. $+$ EQUITY$\frac{}{b}$

$ar($ Cash $+$ Accounts $+$ Equipment $)\frac{?}{b}=ar($ Accounts $)\frac{+}{b}ar($ Lawlor, $-$ Lawlor, $+$ Service $-$ Gas $)$

$\frac{5}{1}$

Receivable

Payable Capital

Withdrawals

$+$

$+$

$+$

Expense

Revenue

Expense

More info

May $1$ Received $$1,700$ and gave capital to Eric Lawlor.

May $3$ Purchased a mower on account, $$1,440.$

May $5$ Performed lawn services for client on account, $$200.$

May $17$ Paid $$60$ cash for gas used in mower.

May $28$ Eric Lawlor withdrew cash of $$300.$

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Done