THE AMERICAN UNIVERSITY IN CAIRO Exercise 1: (10 marks, 1 mark for each transaction) Leora Diamond began a professional practice on June1, during June, Diamond (owner) completed these transactions: A. The owner invested $ 70,000 cash, along with equipment that had a $20,000 market value. B. The company paid $2,000 cash for rent of office space for the month. C. The company purchased $25,000 of additional equipment on credit. D. The company completed work for a client and immediately collected the $3,000 cash earned. E. The company completed work for a client and sent a bill for $9,500, to be received within 30 days. F. The company purchased additional equipment for $5,000 cash. G. The company paid an assistant $3,500 cash as wages for the month. H. The company collected $6,500 cash as partial payment for the amount owed by the client in transaction e. I. The company paid $25,000 cash to settle the liability created in transaction c. J. Owner withdrew $1,500 cash from the company for personal use. Show the effect of the previous transactions on the accounting equation, arrange into Cash, A/R, Equipment, A/P, L.Diamond Capital, Withdrawal, Revenue, Expenses using a table(as solved in the lecture)