The following selected transactions were completed by Cota Delivery Service during July:Received cash in exchange for common stock, $$50,000.$Purchased supplies for cash, $$1,800.$Paid rent for July, $$4,500.$Paid advertising expense, $$1,200.$Received cash for providing delivery services, $$11,500.$Billed customers for delivery services on account, $$33,970.$Paid creditors on account, $$900.$Received cash from customers on account, $$27,500.$Determined that the cost of supplies on hand was $$300$ and $$1,500$ of supplies had been used during the month.Paid cash dividends, $$1,000.$Required:Indicate the effect of each transaction on the accounting equation by listing the numbers identifying the transactions, $(1)$ through $(10),$ in a column, and inserting at the right of each number the appropriate letter from the following list:a$.$ Increase in an asset, decrease in another asset.b$.$ Increase in an asset, increase in a liability.c$.$ Increase in an asset, increase in stockholders equity.d$.$ Decrease in an asset, decrease in a liability.e$.$ Decrease in an asset, decrease in stockholders equity.Instructions:Must submit this PQ using an Excel worksheet.