Transactions made by Blue and Co., a consulting firm, for the month of March are shown below. 1. 2. The company performed $32,000 of services for customers, on credit. The company received $16,000 in cash from customers who had been billed for services [in Transaction (1)]. The company received a bill for $5,800 of advertising but will not pay it until a later date. Ms. Ingler withdrew $2,700 cash from the business for personal use. 3. 4. Prepare a tabular summary, which shows the effects of these transactions on the expanded accounting equation. (If a transaction results in a decrease in Assets, Liabilities or Owner's Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Assets Liabilities Accounts Payable Cash + Accounts Receivable Owner's (1) (2) (3) (4) e Textbook and Media Owner's Equity Owner's Drawings Owner's Capital + Revenues Expenses