The following are transactions for the city of Franklin.

A) Borrowed $20,000 by issuing a two-year note.

B) Purchased equipment for $6,000 cash.

c) Licenses for $700 were billed on account.

D) Accrued employee salary costs of $7,000.

E) Depreciation expense on equipment for year, $1000.

Analyze the above transactions by using the accounting equation for a governmental fund?