Ming Chen began a professional practice on June 1 and plans to prepare financial statements at the end of each month. During June, Ming Chen (the owner) completed these transactions. a. Owner Invested $59,000 cash in the company along with equipment that had a $16,000 market value in exchange for its common stock. b. The company paid $2,500 cash for rent of office space for the month. c. The company purchased $17,000 of additional equipment on credit (payment due within 30 days). d. The company completed work for a client and immediately collected the $2,500 cash earned. e. The company completed work for a client and sent a bill for $7,300 to be received within 30 days. f. The company purchased additional equipment for $5,900 cash. g. The company paid an assistant $3,500 cash as wages for the month. h. The company collected $4,600 cash as a partial payment for the amount owed by the client in transaction e. 1. The company paid $17,000 cash to settle the liability created in transaction c. J. The company paid $1,100 cash in dividends to the owner (sole shareholder). Required: Enter the impact of each transaction on Individual items of the accounting equation. (Enter decreases to account balances with a minus sign.) Assets Liabilities + Equity Cash + Accounts Receivable + Equipment = Accounts Payable Common Stock - Dividends Revenues Expenses + b. + + Bal. + C Bal. + + d. + Bal. + e + Bal. + + f. Bal. + + + + g. Bal. + + h. + Bal. + + + 1. Bal. + + + i Bal. +