Question: please solve : 2. John finished law school in June and immediately set up her own law practice. During the first month that the practice
please solve :

2. John finished law school in June and immediately set up her own law practice. During the first month that the practice was operating, John completed the following transactions: a. Began the law practice by placing $5000 in a bank account established for the business. b. Purchased a law library for $ 1000 cash. c. Purchased office supplies for $ 400 on credit. d. Accepted $ 500 in cash for completing a contract. e. Billed clients $ 1950 for services rendered during the month. f. Paid $ 200 of the amount owed for office supplies. g. Received $ 1250 in cash from one client who had been billed previously for services rendered. h. Paid rent expense for the month in the amount of $ 1200. i. Received utility bill $ 70. j. Withdrew $ 400 from the practice for personal use. i. Show the effects of these transactions on the accounting equation with an analysis of increase or decrease of assets, liabilities and owner's equity
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