Wilco Legal Eagles Company entered into the following transactions during March 2022. Identify the effect for below transactions:
1.
Purchased office equipment for $23,000 from Business
Equipment, Inc. on account.
2.
Paid $3,000 cash for March rent.
3.
Received $15,000 cash from customers for legal work
billed in February.
4.
Provided legal services to Amy Construction Company
for $3,500 cash.
5.
Paid Northern States Power Co. $2,700 cash for electric
usage in March.
6.
Stockholders' invested an additional $32,000 in the
business.
An increase in assets and a decrease in assets.
7.
Paid Business Equipment, Inc. for the office equipment
purchased in (1) above.
8.
Incurred advertising expense for March of $1,900 on
account.