Her i System Announcements TIMER OURCES s 3 and Question 5 Selected transactions for Myme Inc. one listed here. 1. Received $50,000 from stockholders. 2. Purchased equipment for $75,000, paying $15,000 in cash and giving a note payable for the remainder. 3. Paid $3,000 rent for the month. 4. Recorded $12,500 of services provided on account. 5. Pald wages of $9,500. 6. Received $7,000 in cash for services provided 7. Collected $2,000 from customers on account. Describe the effect of each transaction on the basic accounting equation. 1. Increase in and increase in by Study 2. Increase in and increase in 3. Decrease in and decrease in 4. Increase in and increase in 5. Decrease in and decrease in 6. Increase in 95 and increase in 7. Increase in + $ and decrease in Click if you would like to Show Work for this question: Open Show Work