Problem
Therapy Inc. experienced the following events in 2014, its first year of operation:
1. Performed counseling services for $26,000 cash.
2. On February 1, 2014, paid $18,000 cash to rent office space for the coming year.
3. Adjusted the accounts to reflect the amount of rent used during the year.
Required
Based on this information alone
a. Record the events under an accounting equation.