[Solved] Analyze the following transactions using the T account approach.Place the dollar amount on the debit and credit sides.After all transactions have been recorded,foot the accounts where necessary and enter the balance in the proper place. 1. Owner invested \(\$ 15,000\) in a business. 2. Owner invested a truck worth \(\$ 5,000\) into the business. 3. Cash received for services rendered for the month was \(\$ 4,300\). 4. Received a bill for \(\$ 150\) for repairs. 5. Purchased a piece of equipment worth \(\$ 1,500\), making a down payment of \(\$ 250\). 6. Owner withdrew \(\$ 1,400\) from the company. \(\begin{array}{cc}\text {Cash }\\\hline \begin{array}{ll|l} & \\ \end{array} \end{array}\) \(\begin{array}{cc}\text { Accounts Payable}\\\hline \begin{array}{ll|l} & \\ \end{array} \end{array}\) \(\begin{array}{cc}\text { Owner's Capital}\\\hline \begin{array}{ll|l} & \\ \end{array} \end{array}\) \(\begin{array}{cc}\text { Truck}\\\hline \begin{array}{ll|l} & \\ \end{array} \end{array}\) \(\begin{array}{cc}\text {Equipment }\\\hline \begin{array}{ll|l} & \\ \end{array} \end{array}\) \(\begin{array}{cc}\text { Owner's Drawing}\\\hline \begin{array}{ll|l} & \\ \end{array} \end{array}\) \(\begin{array}{cc}\text {Repair Expense }\\\hline \begin{array}{ll|l} & \\ \end{array} \end{array}\) \(\begin{array}{cc}\text { Revenue}\\\hline \begin{array}{ll|l} & \\ \end{array} \end{array}\) Perfect Equality: A theoretical state where all individuals have exactly the same income or wealth, eliminating disparities. Income Distribution: The way in which total income is spread amongst the population or different groups within a society. Lorenz Curve: A diagrammatic representation that exhibits how wealth or income is distributed among people in a society, underscoring the existing inequalities. Gini Ratio: A scale measuring the degree of income difference among people in a demographic, with 0 symbolizing perfect equity and 1 symbolizing utter inequity.