ACCOUNTING-Sean Smith's recently started a lawn care service named "Silver Creek Landscapes."

Sean Smith's recently started a lawn care service named "Silver Creek Landscapes." The following transactions occurred during the company's first month of business. Enter each of the following transactions into the accounting equation and identify an increase or decrease to assets, liabilities, shareholders equity, revenues, or expenses. All of the transactions were for cash.

Transactions:

1) Sean contributed $24,000 of personal savings in exchange for stock to start the business.

2) The company purchased $6,000 of inventory (plants and shrubs) from a gardening wholesaler in Kansas.

3) The company purchased three riding lawn mowers at a cost of $5,500 each.

4) The company paid rent expense of $550 the first month.

5) The company earned service revenue of $10,500 and sold the entire $6,000 of inventory it had purchased to customers for $13,200 cash.

Enter each transaction below into the accounting equation. Some of the account names have been abbreviated. (Use parentheses or a minus sign when entering account decreases. Use only the necessary input lines.)

Begin by entering transaction 1. Sean contributed $24,000 of personal savings in exchange for stock to start the business. Then, enter each transaction in the order they are listed.