Sheridan Company entered into these transactions during May 2022, its first month of operations. 1. Stockholders invested $44,000 in the business in exchange for common stock of the company.
2. Purchased computers for office use for $31,800 from Ladd on account.
3. Paid $2,100 cash for May rent on storage space.
4. Performed computer services worth $16,500 on account.
5. Performed computer services for Wharton Construction Company for $6,300 cash.
6. Paid Western States Power Co. $8,400 cash for energy usage in May.
7. Paid Ladd for the computers purchased in (2).
8. Incurred advertising expense for May of $1,500 on account.
9. Received $12,600 cash from customers for contracts billed in (4).

Required:
Show the effect of each transaction on the accounting equation.