You opened a new business last month with an investment of $10,000 in cash. At that time you analyzed the transaction and determined that the initial investment would be recorded as an increase of $10,000 in the asset account "Cash" and an increase of $10,000 in the owner's equity account "My Name, Capital".

This week your business has just purchased new computer equipment for $5,000. The computer store gave you credit for the $5,000 owed, which you will pay next month. As a new accountant, you are considering how to analyze and record this transaction. Explain how you would approach this analysis. In your response include the steps in transaction analysis and apply the steps to this transaction. Be sure to include an explanation of the accounting elements and the accounts affected and show how this single transaction would appear in the accounting equation chart.