Mary May started her own hair salon on February 1, 2023. The following transactions occurred during the month of February Feb 1 Deposited $30,000 of cash from own savings in a new business bank account. 2 Purchased a computer for $5,000 cash. 3 Paid $2 000 for rent for the month of February. 5 Performed $2,000 of services to hotel

Sep 8, 2023

Mary May started her own hair salon on February 1, 2023. The following transactions occurred during the month of February

Feb 1 Deposited $30,000 of cash from own savings in a new business bank account.

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Mary May started her own hair salon on February 1, 2023. The following transactions occurred during the month of February Feb 1 Deposited $30,000 of cash from own savings in a new business bank account. 2 Purchased a computer for $5,000 cash. 3 Paid $2 000 for rent for the month of February. 5 Performed $2,000 of services to hotel
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2 Purchased a computer for $5,000 cash.

3 Paid $2 000 for rent for the month of February.

5 Performed $2,000 of services to hotel guests and issued a 30 day invoice to the hotel.

9 Paid $200 from the business bank account when she took her sister to dinner.

10 Purchased equipment for her hair salon and paid cash of $2,000.

12 Purchased supplies for $500 on account from a supplier.

15 Received a cash payment of $500 for services performed on February 5.

17 Received an invoice for $300 for an Internet connection fee.

20 Received a cash payment of $3,000 for services performed.

23 Borrowed $5 000 from the bank which will be paid back over a period of 3 years. The bank paid the amount of $5 000 into the business bank account.

25 Paid $280 for Electricity.

26 Paid $500 to the bank as a down-payment on the loan.

27 Paid for the supplies purchased on account on Feb 12.

28 Paid wages of $850.

Required: Show the effects of the  transactions on the accounting equation.

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