Turtle Creek Kennel earns service revenue by caring for the pets of customers. Turtle Creek Kennel is organized as a corporation. During the past month, Turtle Creek Kennel has the following transactions:

a. Received $ 320 cash for service revenue earned.

b. Paid $ 125 cash for salaries expense.

c. Investors contributed $ 1,000 to the corporation in exchange for common stock.

d. Earned $ 440 for service revenue, but the customer has not paid Turtle Creek Kennel yet.

e. Received utility bill of $ 65, which will be paid next month.

f. Cash dividends of $ 80 were paid to stockholders.

Indicate the effects of the business transactions on the accounting equation for Turtle Creek Kennel. Transaction (a) is answered as a guide.

a. Increase asset (Cash); Increase equity (Service Revenue)