Check my work 1 E2-4 (Algo) Determining Financial Statement Effects of Several Transactions (LO 2-1, LO 2-2] 25 The following events occurred for Favata Company a Received $18,000 cash from owners and issued stock to them Borrowed $15,000 cash from a bank and signed a note due later this year c Bought and received 51600 of equipment on account Purchased and for $28.000 paid $2,600 in cash and signed a long term note for $25,400 e Purchased $11,000 of equipment, pald $2,600 in cash and charged the rest on account 40 Required: For each of the events through (e perform transaction analysis and indicate the account, amount and direction of the effect on the accounting equation (Enter any decreases to account balances with a minus sign) P Event Ase LIDES Hockey + +