$\backslash ((1)\backslash )$ Part $2$ of $2\backslash (0\mathrm{.}6/0\mathrm{.}6\backslash )$ points awarded eBook Print References Required Information $[$The following information applies to the questions displayed below.$]$ At the beginning of August, Percy Thomas founded Bookmart.com, which sells new and used books online. He is passionate about books but does not have a lot of accounting experience. The following is a list of events for the company. a$.$ The company purchased equipment for $\backslash (\backslash$$ $4,200\backslash )$ cash. The equlpment is expected to be used for $10$ or more years. b$.$ Percy's business bought $\backslash$$$7,200$ worth of inventory from a publisher. The company will pay the publisher within $45-60$ days. c$.$ Percy's friend Emmanuel lent $\backslash$$$4,200$ to the business. Emmanuel had Percy write a note promising that Bookmart.com would repay the $\backslash (\backslash$$ $4,200\backslash )$ in four months. Because they are good friends, Emmanuel is not going to charge Percy Interest. d$.$ The company pald $\backslash (\backslash$$ $1,600\backslash )$ cash for books purchased on account earlier in the month. e$.$ Bookmart.com repaid the $\backslash (\backslash$$ $4,200\backslash )$ loan established in $($c$).$ Required: Help Percy by preparing the accounting equation effects for the above transactions. Note: Enter any decreases to account balances with a minus sign. $\backslash$begin$\{$tabular$\}\{|$l$|$l$|$l$|$l$|$l$|$l$|$l$|$l$|$l$|$l$|$l$|\}\backslash$hline & $\backslash$multicolumn$\{3\}\{|$c$|\}\{$Assets$\}$ & $=$ & $\backslash$multicolumn$\{3\}\{|$c$|\}\{$Liabilities$\}$ & $+$ & Stockholders' Equity & $\backslash \backslash \backslash$hline a$.$ & Equipment & & $4,200$ & $=$ & & & & $+$ & & $\backslash \backslash \backslash$hline a$.$ & Cash & & $\backslash ((4,200)\backslash )$ & $=$ & & & & $+$ & & $\backslash \backslash \backslash$hline b$.$ & Inventory & & $7,200$ & $=$ & Accounts Payable & & $7,200$ & $\backslash (+\backslash )$ & & $\backslash \backslash \backslash$hline c$.$ & Cash & & $4,200$ & $=$ & Notes Payable $($short$-$term$)$ & & $4,200$ & $\backslash (+\backslash )$ & & $\backslash \backslash \backslash$hline d$.$ & Cash & & $\backslash ((1,600)\backslash )$ & $=$ & Accounts Payable & & $\backslash ((1,600)\backslash )$ & $\backslash (+\backslash )$ & & $\backslash \backslash \backslash$hline e$.$ & Cash & & $\backslash ((4,200)()\backslash )$ & $=$ & Notes Payable $($short$-$term$)$ & & $\backslash ((4,200)\backslash )$ & $+$ & & $\backslash \backslash \backslash$hline & Total & & $5,600$ & $=$ & & & $5,600$ & $+$ & & $0\backslash \backslash \backslash$hline $\backslash$end$\{$tabular$\}$