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HulleWUIR Question 3 of 6 Helen Martin started her own consulting firm, Ivanhoe Consulting, on May 1, 2020. The following transactions occurred during the month of May. May 1 2 3 5 9 12 15 Trixie invested $6,800 cash in the business. Paid $950 for office rent for the month. Purchased $700 of supplies on account. Paid $190 to advertise in the County News. Received $4,000 cash for services performed. Withdrew $1,200 cash for personal use. Performed $5,500 of services on account Paid $2,000 for employee salaries. Made a partial payment of $500 for the supplies purchased on account on May 3. Received a cash payment of $4,000 for services performed on account on May 15. Borrowed $4,700 from the bank on a note payable. Purchased equipment for $4,300 on account. Paid $250 for utilities. 17 20 23 26 29 30 W 26% L O g E 8 Type here to search 10w/question/2 h 1: Homework Question 3 of 6 Show the effects of the previous transactions on the accounting equation. (If a transaction results in a decrease in Assets, Liabilities or Owners Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See Illustration 1-8 for example.) Assets Date Cash Accounts Receivable Supplies EI 1 $ 2 3 5 9 12 O E L RI 25% 0 | 25% Type here to search

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