Create your own word or excel template or write in your notebook to do the following problem. Problem 1-8AAnalyzing transactions LO5,7 CHECK FIGURE: Accounts payable balance, November 30, 2017 = $27,000 Larry Power, Capital balance, November 30, 2017 = $69,100 Larry Power started a new business in the name of Power Electrical on October 1, 2017. During October, a number of activities occurred and the following totals resulted at October 31, 2017 (shown in accounting equation format): $30.000 $14.000 During November, the following occurred: $30,000 per fam and agreeing to pay 24 $4.800 work the 30 Required Use additions and subtractions to show the effects of each November activity on the items in the equation. Do not determine new totals for the items of the equation after each transaction. Next to each change in equity, state whether the change was caused by an investment, a revenue, an expense, or a withdrawal. Determine the final total for each item and verify that the equation is in balance. Analysis Component: Revenue is not recorded on November 28. Explain, using your understanding of GAAP.