Exercise $1-12($Algo$)$ Analysis using the accounting equation LO P$1$

Zen began a new consulting firm on January $5.$ Following are total account balances after each of the company's first five transactions $($using the accounting equation form$).$ Analyze the accounting equation for each transaction and match the given transaction with its most likely description.

Transaction Assets $=$ Liabilities $+$ Equity

Cash $+$ Accounts Receivable $+$ Supplies $+$ Equipment $=$ Accounts Payable $+$ Zen, Capital $+$ Revenues

$1.$ $ $42,000+$ $ $0+$ $ $0+$ $ $0=$ $ $0+$ $ $42,000+$ $ $0$

$2.32,000+0+0+10,000=0+42,000+0$

$3.35,000+0+0+10,000=0+45,000+0$

$4.38,000+0+0+10,000=0+45,000+3,000$

$5.38,000+8,000+0+10,000=0+45,000+11,000$