M Bonzales has the following transactions during August of the current year Indicate the effect on the accounting equation and on the debit credit analysis Aug 1 Opens an office as a financial advisor, investing $8,000 in cash 4 Pays insurance in advance for 6 months, $1,800 cash 16 Receives $3,600...

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M. Bonzales has the following transactions during August of the current year. Indicate the effect on the

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M. Bonzales has the following transactions during August of the current year.

Indicate the effect on the accounting equation and on the debit-credit analysis.

Aug. 1	Opens an office as a financial advisor, investing $8,000 in cash.
4	Pays insurance in advance for 6 months, $1,800 cash.
16	Receives $3,600 from clients for services performed.
27	Pays secretary $1,000 salary.

Effect on Accounting Equation	Debit-Credit Analysis
Aug. 1	The asset is IncreasedDecreased;	Debits Decrease ExpensesDecrease RevenuesIncrease AssetsDecrease Owner's EquityIncrease Owner's EquityDecrease AssetsIncrease RevenuesIncrease Expenses
the owner's equity account is IncreasedDecreased.	Debit $
Credits Decrease ExpensesDecrease RevenuesDecrease Owner's EquityIncrease AssetsIncrease Owner's EquityDecrease AssetsIncrease RevenuesIncrease Expenses
Credit $
Aug. 4	The asset is IncreasedDecreased;	Debits Decrease ExpensesDecrease Owner's EquityIncrease Owner's EquityDecrease RevenuesIncrease AssetsDecrease AssetsIncrease RevenuesIncrease Expenses
the asset is IncreasedDecreased.	Debit $
Credits Decrease AssetsDecrease RevenuesIncrease Owner's EquityIncrease RevenuesIncrease ExpensesDecrease Owner's EquityDecrease ExpensesIncrease Assets
Credit $
Aug. 16	The asset is IncreasedDecreased;	Debits Increase ExpensesDecrease Owner's EquityDecrease RevenuesDecrease ExpensesIncrease Owner's EquityIncrease AssetsDecrease AssetsIncrease Revenues
the revenue is IncreasedDecreased.	Debit $
Credits Decrease Owner's EquityIncrease RevenuesIncrease ExpensesDecrease RevenuesDecrease ExpensesIncrease AssetsIncrease Owner's EquityDecrease Assets
Credit $
Aug. 27	The expense is IncreasedDecreased;	Debits Decrease AssetsDecrease Owner's EquityIncrease RevenuesDecrease RevenuesDecrease ExpensesIncrease ExpensesIncrease AssetsIncrease Owner's Equity
the asset is IncreasedDecreased.	Debit $
Credits Increase Owner's EquityIncrease AssetsDecrease RevenuesIncrease ExpensesIncrease RevenuesDecrease ExpensesDecrease AssetsDecrease Owner's Equity
Credit $