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Maria Miller started her own consulting firm, Sheridan Consulting, on May 1, 2020. The following...

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Maria Miller started her own consulting firm, Sheridan Consulting, on May 1, 2020. The following transactions occurred during the month of May. May 1 2 3 5 9 12 15 17 Trixie invested $7,500 cash in the business. Paid $850 for office rent for the month. Purchased $500 of supplies on account. Paid $130 to advertise in the County News. Received $4,400 cash for services performed. Withdrew $1,200 cash for personal use. Performed $5,600 of services on account. Paid $2,600 for employee salaries. Made a partial payment of $300 for the supplies purchased on account on May 3. Received a cash payment of $4,100 for services performed on account on May 15. Borrowed $4,700 from the bank on a note payable. Purchased equipment for $4,000 on account. Paid $350 for utilities 20 23 26 29 30 (a) 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 for 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 Accounts Receivable Date Cash Supplies Eqi 1 $ $ $ $ 2. 3 5 9 12 15 17 20 23 26 29 30 $ $ $

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