apter 1 Exercise 1-13 Identifying effects of transactions using the accounting equation LO P1 Ming Chen began a professional practice on June and plans to prepare financial statements at the end of each month. During June Ming Chen the owner completed these transactions Owner Invested $60,000 cash in the company song with equipment that had a $15.000 market value b. The company paid $1.500 cash for rent of oice space for the month e. The company purchased $10,000 of additional elment on credit payment due within 30 days) d. The company completed work for a clent and immediate y collected the $2.500 cash eamed . The company completed work for a chest and sent a bil for $8.000 to be received within 30 days t The company purchased and equipment for $6.000 ch . The company paid an assistant 53.000 cash as weges for the month The company colected $5.000 cash as a partial payment for the amount owed by the client in transactione The company paid $10.000 cash to settle they created in transaction 1 Owner withdrew $1000 cash from the company for personal use. Required: Enter the impact of each tiedon on individual terms of the accounting equation Enter decreases to account balances with minus sign) Accets Lisbites Cach Angount Rosbe Equipment Account Payable M Cher Cep Equit M. Cher Witam Expenses Bal .. . 12 Bar +1+ Bar B Ba 19 +++++ Type here to search