Revenue Expenses + Expenses Instructions: Below are the transactions. Indicate each and every transaction to which account they belong using the normal and extended accounting equation Please make use of the rules in placing the negative and positive Assets Liabilities + Equity Example: I made an additional investment of 1,000 1000 1000 Seatwork 1 Assets Liabilities Equity Revenue On January 1, 2011, Philip In opened a small pastry shop with the following transactions for the month Date Transactions 1 Invested 150,000 cash in the business 2 Purchased equipment for 50,000 3 Purchased furniture and equipment 20,000 5 Purchased goods on account 50,000 7 Sold goods for 25,000 with cost of sales of 17.000 Sold goods for 12,000 on account with cost of sales of 8,000 13 Paid 10,000 on good purchased on Manuary 15 Paid salaries 7,000 17 Paid water bill of 5,000 25 Sold goods for 30,000 with cost of sales of 22.000 27 Paid electric bill 5,000 29 Received 12,000 on goods sold on January 10 31 Paid salaries of 8,000 10