Question

CALCULATOR FULL SCREEN Problem 1-04A a-c (Video) Ruth Lewis started her own consulting firm, Sunland Consulting, on May 1, 2020. The following transactions occurred during the month of May. May 1 Tride invested $7,800 cash in the business. 2 Paid $850 for office rent for the month. 3 Purchased $600 of supplies on account 5 Paid $110 to advertise in the County News. 9 Received $4,400 cash for services performed. 12 Withdrew $1,100 cash for personal use. 15 Performed $5,100 of services on account. 17 Pald $2,600 for employee salaries. 20 Made a partial payment of $400 for the supplies purchased on account on May 3. 23 Received a cash payment of $3,600 for services performed on account on May 15. 26 Borrowed 54,700 from the bank on a note payable. 29 Purchased equipment for $4,400 on account. 30 Pald $300 for utilities Show the effects of the previous transactions on the accounting equation. (If a transaction results in a decrease in Assets. Llabilities or Owners parentheses) in front of the amount entered for the particular Asset, Llability or Equity Item that was reduced. See Illustration 1-8 for e