Ffect of transactions on accounting equation jay pembroke started a business. during the first month (april the following transactions occurred. invested cash in business, $18,000. bought office supplies for $4,600: $2,000 in cash and $2,600 on account. paid one-year insurance premium, $1,200. earned revenues totaling $3,300: $1,300 in cash and $2,000 on account. paid cash on account to the company that supplied the office supplies in transaction (b), $2,300. paid office rent for the month, $750. withdrew cash for personal use, $100. required: show the effect of each transaction on the individual accounts of the expanded accounting equation: assets = liabilities + owner's equity (capital - drawing + revenues - expenses). after transaction (g), report the totals for each element. use the minus sign to indicate a decrease or reduction in the account. if an amount box does not require an entry, leave it "blank" or enter "0".