RLY A & R Problem 1-3 For each of the following activities, identify the effect UIT ON ance sheet. The first one has been done as an example for you. 1. $14,000 of services were provided to clients on credit today. Balance Sheet Liabilities Income Statement Assets Equi $14.9 Expenses Revenues $14,000 $14,000 2. $5,000 cash was collected for services performed on credit last month. 3. $25,000 cash was borrowed from the bank. 4. $500 of advertising was done in the local newspaper today on account. 5. $500 was paid regarding the advertising in (4) above. 6. The owner invested an additional $10,000 cash into the business. 7. The owner withdrew $5,000 of cash from the business. 8. The owner took $200 worth of office supplies home for personal use