Analyze the following transactions and show their effects the basic accounting equation: Issue common shares for $11,100. Receive a payment from a customer on his or her account in the amount of $385. Make a payment to the bank of $620 for the bank loan. 1. Of this amount, $500 represents interest and 2. the rest is a repayment of principal. Purchase $11,200 of inventory on account. Dividends of $310 that were declared and paid. Purchase equipment costing $5,300. You pay $1,500 in cash and finance the remainder using a bank loan. (i). Sales on account of $14,800 are reported for the period. (ii). The products sold on account had a cost of $10,750. Paid $3,000 to suppliers for purchases that were previously made on account. Received and paid the telephone bill for the month that totalled $230. (Enter amounts that decrease account balance using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45). Indicate whether it is Revenues, Expenses or Dividends declared in the last column. In case if there is no effect then select "Not Applicable".) Assets Cash Accounts Receivable IL D c:2 a B " " h Inventory Shareholders' Equity Accounts Loon Payable Common Shares Retained Earnings Revenues/Expenses Dividends Declared