speedy delivery service is owned and operated by kris Meyers the following selected transactions were completed by speedy delivery service during march:Received cash in exchange for common stock, 30,000 Paid advertising expense, 3,500 Purchased supplies on account, 2500 Billed customers for delivery services on account 18,750 Received cash from customers on account 14,150 Indicate the effect of each transaction on the following accounting equation elements: assets, liabilities, common stock, dividends, revenue, and expense to illustrate the answer to (1) follows Asset (cash) increases by $30,000: common stock increases by $30,000