Question 2 Motor Inc. had the following activities during the month: 1. Borrowed $7,000,000 cash by signing a promissory note. 2. Bought a building for $800,000, paid $200,000 in cash and signed a promissory note for $600,000. 3. Rented equipment at a cost of $10,000 per month and issued a check covering the next six months' rent. 4. Earned by providing $104,000 of services and billed customers. 5. Purchased $30,000 of supplies on account. 6. Received a utility bill for the current period in the amount of $1,200. 7. Raised sales prices on 200 units from $400 per unit to $440 per unit. 8. Received a 50% deposit from a customer on a $20,000 order to be filled next month. 15 pts Required: Analyze each of the activities (1) through (8) above with the goal of indicating their effects on the basic accounting equation (A-L+E) by drawing a table. Indicate the accounts and amounts involved. Include a plus (+) or minus (-) sign before each number to show its effect on the accounting equation. If the activity should not to be recorded as a transaction, enter the word "None" in the first column for that activity. (Journal Entries and T-Accounts are NOT required) For drawing tables, use the table function on the textbox, OR attempt your answer on an excel sheet and paste the table in the textbox. HTML Editor