Zora Merz started a new business, Rapid Media Services, and completed the following transactions during December:

Analyze the effects of the transactions on the accounting equation of Rapid Media Services using a format similar to Exhibit F:1-5. Use the following accounts: Cash; Accounts Receivable; Supplies; Accounts Payable; Merz, Capital; Merz, Withdrawals; Service Revenue; Rent Expense; Utilities Expense; Salaries Expense; and Advertising Expense.

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Received $4,000 cash from customers for services performed. Dec. 1 Merz contributed $30,000 cash in exchange for capital. 2 5 Paid $100 cash for supplies. 9 Performed services for a customer and billed the customer for services rendered, $3,000. Received $200 invoice for utilities due in two weeks. Paid for advertising on social media, $125. 10 15 20 Paid utility invoice received on Dec. 10. 25 Collected cash in full from customer billed on Dec. 9. 28 Paid rent for the month, $1,500. 28 30 31 Paid $1,050 to assistant for wages. Received $2,800 cash from customers for services performed. Merz withdrew cash of $2,000.