Record the effect of the following transactions on the accounting equation using a table similar to the example (page 18). a. Owen inherited $20,000 and invested the cash in the business. b. Performed services for a client and received cash of $700. c. Purchased supplies on account, $1,000 d. Invested personal cash of $1,000 in the business. e. Performed services to clients and received cash of $2,400 f. Paid office rent expenses, $ 900 and advertising expense $100. g. Withdrew cash of $1,800 for personal use. Prepare Income Statement and Balance Sheet