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Problem 1: Business-Sofia Perez opens a photography business. She rents a studio and also offers services for special events. Analyze the following business transactions in the accounting equation. Use plus (+) and minus (-) signs to show the change in account balance. Transactions:a. Sofia Perez invests $50,000 cash to start a photography business named "Sofia Perez Photography".b. Sofia purchased photography equipment for $15,000 in cash.c. Sofia purchased supplies for $5,000 on credit.d. Sofia paid the monthly rent for the studio, $2,100.e. Sofia performed services for $6,300 in cash.f. Sofia performed services for $4,800 on account.g. Sofia paid $2,500 in cash to creditor for supplies.h. Sofia withdrew $3,000 cash for personal use.i. Sofia received $2,600 in cash from credit customers
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