The following transactions took place at Calhoun Counseling Services, a business established by Ronald Calhoun. Post the following transactions into the appropriate T accounts, Transactions: 1. Ronald Calhoun invested $68,000 cash in the business. 2. Purchased office furniture for $16,800 in cash. 3. Bought a fax machine for $1,030; payment is due in 30 days. 4. Purchased a used car for the firm for $16,800 in cash. 5. Calhoun invested an additional $10,800 cash in the business. 6. Bought a new computer for $3,800; payment is due in 60 days. 7. Paid $1,030 to settle the amount owed on the fax machine. 8. Calhoun withdrew $4,800 in cash for personal expenses. Analyze: Which transactions affected asset accounts? T accounts normally do not have any minus signs. Use minus signs in this problem to demonstrate your understanding of decreases to account balances.