E$2-4($Algo$)$ Determining Financial Statement Effects of Several Transactions $[$LO $2-1,$ LO $2-2]$The following events occurred for Favata Company: Received $$13,500$ cash from owners and issued stock to them.Borrowed $$10,500$ cash from a bank and signed a note due later this year.Bought and received $$1,150$ of equipment on account.Purchased land for $$19,000$; paid $$1,700$ in cash and signed a long$-$term note for $$17,300.$Purchased $$6,500$ of equipment; paid $$1,700$ in cash and charged the rest on account. Required:For each of the events $($a$)$ 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.$)$