Problem 1-1B Objective: To record business transactions in an expanded accounting equation Tom Atchinson opened a software design service on January 8, 20XX. During January, the following transactions occurred: (a) Tom invested $14,000 cash in the business to get it started. (b) Purchased office supplies on credit, $755. (c) Purchased office equipment on credit, $3,500. (d) Invested office equipment, valued at $11,000, in the firm. (e) Paid rent, $600. (f) Received cash for services performed, $800. (g) Paid salary of assistant, $600. (h) Paid half of the liability for the equipment purchased in Transaction (c), $1,750. (i) Received cash for services performed, $500. (j) Paid telephone bill, $200. (k) Tom withdrew $1,000 cash for personal use. Directions: Record each of these transactions in an expanded accounting equation with the following headings: Assets Liabilities + Owner's Equity Accounts Tom Atchinson, Cash + Office Supplies +Office Equipment Payable + Capital + Revenue - Expenses Calculate balances after recording each transaction.