Weygandt, Financial Accounting, 10e Help I System Announcements Exercise 2-7 Pharoah Cormpany had the following selected transactions. 1. Kim Leppard invested $5,275 cash in the business in exchange for common stock. 2. Paid office rent of $1,002. 3. Performed consulting services and billed a client $4,958. 4. Declared and paid a $633 cash dividend. (a) Indicate the effect each transaction has on the accounting equation (Assets = Liabilities + stock Assets = Liabilities + Stockholders' Equity 2. 3. (b) Journalize each transaction. (Credit account titles are automatically indented when the an enter 0 for the amounts.)