You are the bookkeeper for a startup consulting business. In the first quarter of operations, the following transactions occur: 1. The owner invests $8,000 cash and $3,000 of office equipment into the new business. 2. The business pays a $500 network equipment deposit and $300 service charge for its first month of high-speed internet service. 3. The business pays a retainer of $1,500 to an attorney for legal counsel. 4. The business receives $4,000 in payment on its first consulting contract. For each statement about transactions in the first quarter, select True or False. 0 0 0 0 The business should record an expense of $300 for Communications - Internet. The business should record a legal expense of $1,500. The business should record revenue of $4,000. The business should record the investment revenue as $8,000 with a debit to Cash and $3,000 as a credit to equipment

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