Sheryl Hansen started a business on May 1, 20--. Analyze the following transactions for the first month of business using T accounts. Label each T account with the title of the account affected and then place the transaction letter and the dollar amount on the debit or credit side.

(a) Invested cash in the business, $4,000.

(b) Bought equipment for cash, $500.

(c) Bought equipment on account, $800.

(d) Paid cash on account for equipment purchased in transaction (c), $300.

(e) Withdrew cash for personal use, $700.