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Keystone Computer Timeshare Company entered into the following transactions during May $2022.$

Describe the effect of each transaction on assets, liabilities, and stockholders' equity.

Purchased computers for $$20,000$ from Data Equipment on account.

Paid $$3,000$ cash for May rent on storage space.

Received $$15,000$ cash from customers for contracts billed in April.

Performed computer services for Ryan Construction Company for $$2,700$ cash.

Paid Midland Power Co$.$ $$11,000$ cash for energy usage in May.

A decrease in assets and a decrease in stockholders' equity.

An increase in assets and an increase in liabilities.

An increase in assets and an increase in stockholders' equity.

An increase in assets and a decrease in assets.

An increase in liabilities and a decrease in stockholders' equity.

An increase in stockholders' equity and a decrease in liabilities.

A decrease in assets and a decrease in liabilities.

Stockholders invested an additional $$32,000$ in the business.

Paid Data Equipment for the computers purchased in $(1)$ above.

Incurred advertising expense for May of $$840$ on account.

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