On April $30$th$,2023,$ the general ledger of Hills Legal Services Inc. showed these balances: Cash $$5,000$; Accounts Receivable $$1,500$; Supplies $$500$; Equipment $$5,000$; Accounts Payable $$3,700$; Common Shares $$4,500$; and Retained Earnings $$3,800.$ During May, the following transactions occurred:

$1.$ Collected $$1,500$ of accounts receivable due from customers.

$2.$ Paid $$3,200$ on accounts payable owing.

$3.$ Earned fees of $$6,500,$ of which $$5,000$ was collected in cash and the remainder was due on account.

$4.$ Purchased additional equipment for $$3,200,$ paying $$1,400$ in cash and the balance on account.

$5.$ Paid salaries, $$3,500,$ rent, $$400,$ and advertising expenses, $$1,275,$ for the month of April.

Question $13$ marks

Beginning with the April $30$th balances, prepare an equation analysis of the effects of the opening balances and above transactions on the expanded accounting equation.

Accounting Equation

Assets Response area $=$ Liabilities Response area $+$ Equity $2300$