Learning Objective 4 P1-41A Using the accounting equation for transaction analysis Christopher Turner started a new business, Turner Gymnastics, and completed the Total Assets $19.425 following transactions during December: Dec. 1 Christopher contributed $21,000 cash in exchange for capital. 2 Received $3,500 cash from customers for services performed. 5 Paid $200 cash for office supplies. 9 Performed services for a customer and billed the customer for services rendered, $2,000. 10 Received $300 bill for utilities due in two weeks. 15 Paid for advertising in the local paper, $325. 20 Paid utility bill received on Dec. 10. 25 Collected cash from customer billed on Dec. 9. 28 Paid rent for the month, $2,000. 28 Paid $1,250 to assistant for wages. 30 Received $1,800 cash from customers for services performed. 31 Christopher withdrew $5,000 cash from the business. Analyze the effects of the transactions on the accounting equation of Turner Gymnastics using a format similar to Exhibit 1-4