The following transactions occurred during March 2018 for the Walinwright Corporation. The company owns and operates a wholesale warehouse. 2 Purchased equipment at a cost of $20000. $5000 cash was paid and a note payable was signed for the balance owed 3. Purchased inventory on account at a cost of $62,000. The company uses the perpetual inventory system. 4. Credit sales for the month totaled $70.000. The cost of the goods sold was $42.000. 5. Paid $3,000 in rent on the warehouse building for the month of March. 6. Paid $5.200 to an insurance company for fire and liability insurance for a one-year period beginning April 1, 2018. 7. Paid $42,000 on account for the merchandise purchased in 3. 8. Collected $31,500 from customers on account. 9. Recorded depreciation expense of $500 for the month on the equipment Required: Analyze each transaction and show the effect of each on the accounting equation for a corporation. (Amounts to be deducted should be indicated by a minus sign. Enter the net change on the accounting equation.) Assets Liabilities 200,000 (5,000) 3 62,000 (3,000) 200,000 2. 15,000 62,000 20,000 (3,000) (15,000) (15,000 (42,000)(42,000) 8. 31,500 315,000 redtext indo ates no response was expected ice or a formu a based aeaeen s ncerredi no ponta deduced