make corrections to it, so that the Assets are equal to the Liabilities and Owner's Equity.

-------------------- Assets Accts. Receivable Supplies Liabilities Accts. Payable Owner's Equity Owner's Capital Equipment $23,500 $6,790 Instructions: Use the following information to create a Transactions Analysis: Cash 1. Initial investment is the business, $23,500 $23,500 2. Purchase equipment for cash, $6,790 $6.790 3. Purcahse supplies on credit, $1,475 4. Receive cash for services provided, $1,180 $1,180 5. Purchase advertising on credit, $175 6. Services provided for cash, $1,500 and credit, $2,000 $1,500 7. Payment of expenses: store rent, $960, employees, $925 and utilties, $195 -$2,080 $1,475 -$1,475 $175 $2,000 $1,180 $175 $3,500 -$950 -$925 $196 -$250 $700 8. Payment of accounts payable, $250 9. Received payment of cash from accounts receivable, $700 10. Withdrawl of cash by owner, $2,000 Totals: Assets Liabilities and Owners' Equity -$250 $700 -$2,000 $29,340 $38,905 $24,209 $2,000 $24,284 $1,300 $1,475 $6,790 -$75