Transactions made by Callahan Ltd., a law firm, for the month of March are shown below. Prepare a tabular analysis which shows the effects of these transactions on the accounting equation, similar to that shown in Illustration 1.9.

1. The company performed R 20,000 of services for customers, on credit.

2. The company received R 20,000 in cash from customers who had been billed for services [in transaction (1)].

3. The company received a bill for R 3,200 of advertising but will not pay it until a later date.

4. The company paid a dividend of R 5,000 in cash to shareholders.