Transaction Analysis Grant Appraisal Service provides commercial and industrial appraisals and feasibility studies. On January 1, the assets and liabilities of the business were the folowing: Cash $11.200 Accounts Receivable 15.300 Accounts Payable 1.100 Notes Payable 3.000 Common Stock 18.400 Retained Earnings 4.000 The following transactions occurred during the month of January Jan Paid rent for January, 51450. 2 Received 59.300 payment on customers accounts. 3 Pald 51.000 on accounts payable Received $2.100 for services performed for cash customers. 5 Borrowed 55.500 from a bank and stened a note payable for the amount 6 Diled the city $6.700 for a feasibility study performed billed various other credit customers, 52,400 7 Paid the salary of an assistant, 54.500. Received invoice for January utilities 5010 9 Paid $6,000 cash for employees 10 Purchased a van on january 31) for business st. 510.300 16 Paid $550 to bank as January interest on the outstanding note payable Required (a) Set up an accounting equation in columner form with the following individual assets, liabilities, and stockholders' equity accounts: Cash, Accounts Receivable, Van, Accounts Payable, Notes Payable, Common Stock, and Retained Earnings, Enter the January 1 balances below each item. (Note: The beginning van account balance is 03 (b) Show the impact (increase or decrease of transactions 1-11 on the beginning balances, and total the columns to show that assets equal liabilitles plus stockholders equity as of January 31, Note: Use a negative sign with your answers, when needed. Accounts Payable Notes Payable. Common Stock Retained Earnings Cash + Accounts Receivable. Van Balance 1 2 3 6 B 9 10 11 $ $ 5