John Sullivan started a business. During the first month $($February $20--),$ the following transactions occurred. Show the effect of each transaction on the accounting equation: As $=$ Liabilities $+$ Owner's Equity. After each transaction, show the new totals. Use the minus sign to indicate a decrease or reduction in the account. If an amount box does not rec an entry, leave it blank.

Assets

a$.$ Invested cash in the business, $$30,000.$

Bal.

b$.$ Bought office equipment on account, $$7,700.$

Bal. Bought office equipment for cash, $$1,600.($Enter the change in Cash on the first line and the

change in Equipment on the second line$)$

Bal.

d$.$ Paid cash on account to supplier in transaction $($b$),$ $$2,000.$

Bal.

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