Show the effect of each of the seven listed transactions on the balance sheet items of Distinctive Draperies. Indicate the new balances after the transaction of May 2 and each subsequent transaction. The effects of the May 1 transaction are already filled in to provide you with an example. Note that the example has a + or - in addition to the amount for each account affected. May 1 Issued capital stock for $75,000 2 Purchased a small office building at a price of $58,000 for the land and $65.000 for the building Paid $43,000 cash and signed a note payable for the balance 8 Borrowed $15,000 from the bank. Signed a 60-day note payable for this amount 16 Purchased copying machines, computers, and other office equipment for $19.000 Paid $9,000 cash and signed a note payable for the balance. 28 Sold an item of office equipment computer) to a stockholder at its cost of $2,800 The stockholder paid $800 cash and promised to pay the balance within 30 days. 30 Paid $5,000 on the liability for the office equipment 31 Collected $500 from the stockholder who had bought the computer Cash As Receivable Equity Cape Stock Buting Offee Equipment Notes Pule Mai -$75.000 Balas B 16 Bal 28 Bal 30 Bal 31 Balm