! Required Information [The following information applies to the questions displayed below.] On September 1, Pat Hopkins established Ona Cloud Corporation (OCC) as a provider of cloud computing services. Pat contributed $17,000 for 1,700 shares of OCC. On September 8, OCC borrowed $31,000 from a bank, promising to repay the bank in two years. On September 10, OCC wrote a check for $21,500 to acquire computer equipment. On September 15, OCC received $2,400 of supplies purchased on account and, on September 16, paid $3,400 for September rent. Through September 22, OCC provided its customers $12,200 of services, of which OCC collected $7,000 in cash. On September 28, OCC paid $370 for Internet and phone service this month. On September 29, OCC paid wages of $5,700 for the month. Finally, on September 30, OCC submitted its electricity meter reading online and determined that the total charges for the month will be $310. This amount will be paid on October 14 through a preauthorized online payment. Required: 1. Indicate the accounting equation effects of the September events, using table below. (Enter any decreases to account balances with a minus sign.) Assets Liabilities September 01 Cash 17,000 September 08 Cash September 10 Equipment 31,000 21,500 Notes Payable (long-term) September 15 Supplies September 16 Cash September 22 Cash Stockholders' Equity Common Stock 17,000 31,000 2,400 Accounts Payable 3,400 (3,400) 7,000 Accounts Receivable 12,200 September 28 Cash (370) September 29 Cash 5,700 Salaries and Wages Expense (5,700) September 30 Accounts Payable 310 Utilities Expense (310)