Analyze each transaction below for May 2017. For each transaction: (a) identify the accounts affected and record the transaction in the tabular summary. (b) Total each account in the row provided. (c) Use the accounting equation to show that A=L+SE (d) Create the t-account for Cash. Is the final balance a debit balance or a credit balance? 1. Rita invested $25,000 to start her business. 2. Purchased computer terminals for $15,000 from Comp-time on account. 3. Paid $3,000 cash for May rent on storage space. 4. Provided computer services to Magic Construction Company for $22,500. Received $2,500 cash and rest on account 5. Incurred advertising expense for May of $900 on account. 6. Received $12,000 cash from customers for services provided in #4 above 7. Paid Comp-time in full for the terminals purchased in #2 above. 8. Paid Northern Ohio Power Co. $7,000 cash for power bill 1. 2. 3. 4. +3,000 5. 6. 7. 8. TOTAL: Assets Accounts Cash Receivable Equipment Liabilities + Accounts Common Payable Stock Owner's Equity Revenue Expense Dividends