Learning Objective 4 S-F:1-9 Using the accounting equation to analyze transactions Tiny Town Kennel earns service revenue by caring for the pets of customers. Tiny Town Kennel is organized as a sole proprietorship and owned by Earle Martin. During the past month, Tiny Town Kennel has the following transactions: a. Received $520 cash for service revenue earned. b. Paid $325 cash for salaries expense. c. Martin contributed $1,000 to the business in exchange for capital. d. Earned $640 for service revenue, but the customer has not paid Tiny Town Kennel yet. c. Received utility bill of $85, which will be paid next month. f. Martin withdrew $100 cash. Indicate the effects of the business transactions on the accounting equation for Tiny Town Kennel. Transaction (a) is answered as a guide. Use the following accounts: Cash; Accounts Receivable; Accounts Payable; Martin, Capital; Martin, Withdrawals; Service Revenue; Salaries Expense; and Utilities Expense. a. Increase asset (Cash); Increase equity (Service Revenue)