Selected transactions for BM Corporation, an interior decorating corporation (i.e., service business),

in its first month of business, are shown below.

Jan. 2: Invested $15,000 cash in the business in exchange for common shares.

Jan 3: Purchased used car for $2,000 cash for use in the business.

Jan 15: Billed customers $1,800 for services performed.

Jan 16: Paid $200 cash for advertising.

Jan 20: Received $700 cash from customers billed on January 15.

Jan 30: Paid salaries of $1,000 to staff.

Required: For each transaction indicate the following.

(a) Analyze business transactions by applying accounting equation

(b) Journalize business transactions.