Problem 2.1A (Algo) Analyzing the effects of transactions on the accounting equation. LO 2-1, 2-2, 2-3 On July 1, Alfred Herron established Herron Commercial Appraisal Services, a firm that provides expert commercial appraisals and represents clients in commercial appraisal hearings. TRANSACTIONS 1. The owner invested $88,500 in cash to begin the business. 2. Paid $18,050 in cash for the purchase of equipment. 3. Purchased additional equipment for $15,800 on credit. 4. Paid $10,100 in cash to creditors. 5. The owner made an additional investment of $21,500 in cash. 6. Performed services for $6,500 in cash. 7. Performed services for $7,700 on account. 8. Paid $2,300 for rent expense. 9. Received $1,800 in cash from credit clients. 10. Paid $4,760 in cash for office supplies. 11. The owner withdrew $7,300 in cash for personal expenses. Record in equation form the changes that occur in assets, liabilities, and owner's equity for the above transactions. Analyze: What is the ending balance of cash after all transactions have been recorded? Complete this question by entering your answers in the tabs below. Accounting Equation Analyze Record in equation form the changes that occur in assets, liabilities, and owner's equity for the above transactions. (Enter decreases to account balances with a minus sign.) Assets Liabilities + Owner's Equity Owner's Capital Transactions Cash + Accounts Receivable + Supplies + Equipment Accounts Payable + 1. + + + + 2. + + + = + 3. + + + + 4. + + + + 5. + + + - + 6. + + + 7. + + + + + 8. + + = + 9. + + = + + 10. + + + + + + - + + 11. + + + = + Totals $ 0 + $ 0 + $ 0 + $ 0 = $ 0 + $ 0 Complete this question by entering your answers in the tabs below. Accounting Equation Analyze What is the ending balance of cash after all transactions have been recorded? Ending balance