The following table shows the effects of transactions 7 through 5 on the assets, liabilities, and equity of Mulan's Boutique. Mat transaction with its probable description. Assets Accounts Liabilities + Equity Cash + Receivable + $ 30,000 + $ 8 + Supplies $ 4,100 + Land. $ 29,000- Accounts Payable $ 0 + Common Stock + Revenues $ 63,100 + $ 0 1. -5,000 5,000 2. 1,200 +1,200 3. 2,900 2,900 4. -1,200 -1,200 5. +2,900 2,900 $ 26,700 $0 + $ 5,300 + $ 34,000 $0 + $ 63,100+ $ 2,900 Transaction 1 2 3. 4. 5 Description The company billed a client $1,200 for services provided. The company billed a client $2,900 for services provided. The company collected $2,900 cash from an account receivable. The company paid $1,200 cash toward an account payable.. Show All Items