Zachary Martin owns Zacharys Repair Shop. On February 1, Zacharys Repair Shops accounting equation indicated the following account balances. Use the form in your Working Papers to complete this problem.

Transactions:

1. Took $400.00 of supplies for personal use.

2. Had equipment repaired at Kollasch Company and agreed to pay Kollasch Company at a later date, $250.00.

3. Mr. Martin had some personal property, which he sold for $500.00 cash.

4. Paid Kollasch Company $120.00 on account.