Transaction Analysis Daniel Kelly, an attorney, opened his law practice on October 1. Using the horizontal worksheet below, record the following October transactions. Total the columns to show that assets equal liabilities plus stockholders' equity as of October 31. 01. Kelly started his law practice by contributing $15,600 cash to the business on October 1, receiving shares of common stock in the company. 02. Purchased office equipment on account, $8,320. 03. Paid office rent for October, $560. 04. Paid $7,680 to access online legal database for two years. 05. Billed clients for services rendered, $9,040. 06. Made $4,800 payment on account for the equipment purchased on October 2. 07. Paid legal assistant's salary, $2,240. 08. Collected $7,520 from clients previously billed for services. 09. Received invoice for October utilities, $144; it will be paid in November. 10. The company paid stockholders $1,200 as a cash dividend. Note: Use negative signs with answers, when appropriate. Assets Accounts Legal Database M Liabilities Stockholders' Equity Office Accounts Payable Common + Stock Retained Earnings Revenue Expenses Dividends 10 0 0 0 0 OOO ooooooooooo ooooooooooo 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 000 Transaction Cash + Receivable + Subscription + Equipment = 1. Invested cash to begin business. 0 0 2. Purchased office equipment. 3. Paid office rent. 0 0 0 4. Paid for database access. 5. Billed clients for services rendered. 6. Made partial payment on account. 0 0 0 7. Paid assistant's salary. 0 8. Collected from clients previously billed. 0 9. Received invoice for utilities. 0 10. Paid stockholders a dividend. TOTALS 0 0 ooooooooo 0 0 0 10 0 0 0 0 0