XYZ Company engage in a service business, On the first day company received P60,000 cash and truck P100,000 investment. The owner signed a note and borrowed P20, 000 from a friend for use in the business on the 2nd day. The company bought P30,000 of computer on account on the 4th day. Cash was received from a costumer for service rendered P7,900 on the 5th day. The following expenses were paid on the 6th day: Salary of the employees P6,000; Rent for the month P5,000 and Advertising bill P18,000. Purchased equipment on account P7,500 on the 7th day. Billed X Co., P18,000 for service rendered on the 9th day and collected cash from X Co. on the 10th day. Required: indicate the effects of the above transactions on accounting equation and be able to compute asset balance and liabilities and owners equity.