Required information

On September 1, Shawn Dahl established Whitewater Rentals, a canoe and kayak rental business. The following transactions occurred in the month of September and affected the following accounts:

Cash		Accounts Payable
Accounts Receivable		Shawn Dahl, Capital
Office Equipment		Revenue
Canoe and Kayak Equipment		Expenses

Transactions

1. Shawn Dahl invested $45,600 in cash to open the business
2. Paid $13,300 in cash for the purchase of kayak and canoe equipment
3. Paid $1,350 in cash for rent expense
4. Purchased additional kayak and canoe equipment for $4,100 on credit
5. Received $4,200 in cash for kayak rentals
6. Rented canoes and kayaks for $1,500 on account
7. Purchased office equipment for $155 in cash
8. Received $950 in cash from credit clients
9. Shawn Dahl withdrew $1,800 in cash for personal expenses

Based on the information above, complete the following accounting equation.

Assets

=

Liabilities

+

Owner's Equity