Analyze each of the following transactions in terms of their effects on the accounting equation of Osgood Delivery Service.The company is a sole proprietorship.Enter the correct amounts in the columns of the spreadsheet.
a)James Osgood contributes $75,000 cash to the business in exchange for capital.
b)The business purchases $750 of office supplies on account.
c)The business pays cash to purchase a delivery van for $25,000.
d)Services are performed for clients and $5,000 cash is received.
e)Cash is paid for rent expense,$800 and utilities expense,$400.
f)James Osgood withdraws $1,000 from the business for personal use.
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