Create a table in MS Excel with each of the following accounts and indicate their effect on the accounting equation.

• On February 1, 2020, Miguel Toro established a home rental business under the name Miguel's Rentals. During the month of March, the following transactions were recorded:
• To open the business, he deposited $ 60,000 of his personal funds as an investment.
• He bought equipment for $ 6,000 on credit.
• He bought office supplies for $ 1,500 in cash.
• He received income from renting a property for $ 3,500 in cash.
• He paid for utilities expenses of $ 800.00.
• He paid $ 1,200 of the equipment purchased on credit from the second transaction.
• He received income from managing a building rental for $ 4,000 in cash.
• He provided a rental counseling service to a client for $ 3,000 on credit.
• He paid salaries of $ 1,500 to his secretary.
• He made a withdrawal of $ 500.00 for his personal use.