Soar Inc. enters into the following transactions: Stockhoders contribute $10,300 cash to a company in exchange for common stock. The company purchases $5,150 to buy new equipment by paying cash. The company pays $3,030 to suppliers on account. Required Show the effect of these transactions on the basic accounting equation. (Enter any decreases to account balances with a minus sign.) Prepare the journal entries that would be used to record the transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record the entry for cash contributed by stockholders,$10300