Tom Smith had the following transactions for Preston Business Services for 2021.+ 1) Provided services on account, $50,000. 2) Purchased $12,500 of office supplies on account. 3) At the end of the year, an adjusting entry was prepared for the supplies that had been used. The amount of office supplies still on hand was $3,300. < Required:+ a) Show the effect of the above three events on the accounting equation. (You need to fill in the appropriate headings). Accounting Equation 17 1) 2) 3) Assets Stockholders Liabilities + Equity b) Set up the appropriate T-accounts and post each of the above transactions. Accounts Receivable Supplies Accounts Payable Revenue Supplies Expense