Exercise 2.7 (Static) Identifying transactions. LO 2-1, 2-2, 2-3 ces Balance 1. 2. 3. 4. 5. 6. 7. Assets = Liabilities + Owner's Equity Cash $ 82,000 +12,000 -7,800 -4,200 -6,910 +1,800 Accounts + Receivable + $ 8,000 Accounts + Equipment = Payable + $ 60,000 = $ 40,000 Alfredo Sanchez, Capital + $ 110,000 + Revenue - Expenses $ 0 $ 0 +12,000 +7,800 -4, 200 -1, 800 +13,380 +6,910 -4,320 +13, 380 +4,320 The above equation shows the effects of a number of transactions that took place at Sanchez Auto Repair Company during the m of July. Describe each transaction