Question $1$ of $4$

Prepare an equation analysis of the effects of the following transactions on the accounting equation for Sandhill Corp.

Purchased supplies on account, $$290.$

Provided a service on account, $$590.$

Paid salaries expense, $$390.$

Issued common shares in exchange for cash, $$4,900.$

Declared and paid $$190$ of dividends to shareholders.

Received cash from a customer who had previously been billed for services provided, $$590($see item $2).$

Paid account owed to supplier on account, $$290($see item $1).$

Paid for insurance in advance, $$190.$

Received cash in advance from a customer for services to be performed in the future, $$390.$

Performed the service that the customer previously paid for $($see item $9).$