value: 10.00 points Problem 1-8A Analyzing effects of transactions LO C4, P1, P2, A1 Lita Lopez started Biz Consulting, a new business, and completed the following transactions during its first year of operations. a. Lita Lopez invests $66,000 cash and office equipment valued at $37,000 in the company exchange for its common stock. b. The company purchased a $315,000 building to use as an office. Biz Consulting paid $41,000 in cash and signed a note payable promising to pay the $274,000 balance over the next 10 years. C. The company purchased office equipment for $5,300 cash. d. The company purchased $3,600 of office supplies and $1,100 of office equipment on credit. e. The company paid a local newspaper $910 cash for printing an announcement of the office's opening. f. The company completed a financial plan for a client and billed that client $4,100 for the service. g. The company designed a financial plan for another client and immediately collected a $8,000 cash fee. h. The company paid $1,500 cash in dividends to the owner (sole shareholder). i. The company received $3,100 cash as partial payment from the client described in transaction f. j. The company made a partial payment of $550 cash on the equipment purchased in transaction d. k. The company paid $1,800 cash for the office secretary's wages for this period. Required: 2. Enter the amount of each transaction on individual items of the accounting equation. (Reductions in account balances should be indicated with a minus sign.) Assets Liabilities Accounts No Accounts Office Office