Determining Accounting Equation Effects of variousTransactionsThe following tran

Determining Accounting Equation Effects of variousTransactionsThe following transactions occurred during a recent year :a. Paid wages of $1000 for the current period ( example below)b. Borrowed $5000 cash from a local bankc.Purchased $2000 of equipment on creditd. Earned $400 of sales revenue collected cashe. Received $800 of utilities services on creditf. Earned $700 of service revenue on creditg. Paid $300 cash on account to a supplier.h. incurred $70 of delivery expenses paid cashi. Earned $400 of service revenue collected half in cash balanceon creditj. Collected $100 cash from customers on accountk. Incurred $300 of advertising costs paid half in cash balanceon creditRequired: For each transaction complete the table belowindicating the account amount and direction of the effect ( + forincrease and for decrease) of each transaction under the accrualbasis. Write NE if there is no effect. Include revenues andexpenses as subcategories of Stockholders equity