Selected transactions for the Cullumber Corporation during its first month of operations are presented below:

Sept. $1$ Issued common shares for $$19,000$ cash.

$2$ Performed $$7,500$ of services on account for a customer.

$4$ Purchased equipmeit for $$11,500,$ paying $$4,500$ in cash and borrowing the balance from the bank.

$10$ Purchased $$1,500$ of supplies on account.

$25$ Received $$3,000$ cash in advance for architectural services to be provided next month.

$30$ Paid $$1,050$ on account in partial payment of amount owing for supplies. $($See September $10$ transaction.$)$

$30$ Collected $$4,500$ on account owing from customer. $($see September $2$ transaction.$)$

$($a$)$

For each of the above transactions, prepare a basic analysis. $($In the Sept $4.$ transaction, enter answers in alphabetical order for Account

Credited column.$)$

Account Debited

Specific Account

Account Credited

Specific Account

Sept. $1$Question $4$ of $7$

Beginning with the July $31$ balances, prepare an equation analysis of the effects of the opening balances and above transactions

on the accounting equation. $($If a transaction results in a decrease in Assets, Liabilities or Shareholders' Equity, place a minus sign $($or

parentheses$)$ in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See Illustration $3\mathrm{.}3$ for

example.$)$

Transactions

Assets

Aug.

$2$

$3$

$6$

Cash

Accounts Receivable

Supplies

July

$31$ Bal.

$

$

$

$7$

$13$

$17$