Response to the following problem:
Indicate the effects of the following business transactions on the accounting equation of an Enterprise Rent-a-Car location. Transaction (a) is answered as a guide.
a. Received cash of $25,000 from the owner, who was investing in the business.
b. Paid $700 cash to purchase supplies.
c. Earned rental revenue on account, $500.
d. Purchased on account office furniture at a cost of $600.
e. Received cash on account, $900.
f. Paid cash on account, $250.
g. Sold land for $12,000, which was the cost of the land.
h. Rented automobiles and received cash of $680.
i. Paid monthly office rent of $800.