month’s transaction for Alem Photographic Studio are use based on their occurrence during March, 2012. March, 1. Alem invested the following from her par-time business to transfer a full-time business; cash Br 5,500, account receivable Br 950, supplies Br 1,200 and photographic equipment Br 15,000. March, 1. Hill paid Br 3,400 on a lease rental contracts the payment representing three months rent of quarters for the studio. March, 4. Purchased additional photographic equipment on account from Kelem photographic equipment Inc. for Br 2,500. March, 5. Received Br 850 from customers in payment of their accounts. March, 6. Paid Br 250 for a news paper advertisement. March, 10. Paid Br 600 to Kelem photographic equipment Inc. as a payment of her debt. March, 13. Paid receptionists Br 575 for two weeks salary. March, 16. Received Br 2,500 from sales for the first half of march. March, 20. Paid Br 650 for supplies. March, 27. Paid receptionist Br 575 for two weeks salary. March, 31. Paid Br 150 for telephone bill for the month. March, 31. Paid Br 175 for electric bill for the month. March, 31. Received Br 1,870 from sales for the second half of march. March, 31 Sales on account totaled shows balance of Br 1,675 for the month. March, 31 Alem withdrew Br 2,500 for her personal use. Adjusting entries occurred at the end of March a. The inventory of supplies on March 31 is determined that $890 is on hand. b. The debit balance of Br 2,400 in the prepaid rent represents the prepayment for three months. c. The estimated amount of depreciation of the photographic equipment for the month is assumed to be $175. d. The salaries expense on Monday and Tuesday, March 30 and 31 total $ 115 were not paid (accrued expense/salary payable). Instructions 1. State the assets, liabilities, and owner’s equity in equation form and in tabular form indicate the increases and decreases resulting from each transaction and the new balances after each transaction