Your group member Program- 1. Suppose Mr. Abebe. Alemu decide to start business called "Horizon Garage" The following transaction was occurred in the business during the month of September. 2020 as follows as: a) Mr. Abebe Alemu starts business by deposits Br 300,000 in a bank account in the name of Horizon Garage. b) Mr. Abebe Alemu purchase furniture for birr 16,000 in cash for business service use. c) Mr. Abebe Alemu purchase office equipment for birr 12,000 on credit to be used by business d) Mr. Abebe Alemu bought office supplies for birr 6000 on cash to be used by business. e) Mr. Abebe Alemu bought office supplies for birr 3,500 on credit to be used by business. f) Mr. Abebe Alemu paid birr 1000 to creditors on account. g) Mr. Abebe Alemu earned service revenue of birr 45,000 receiving the amount in cash for the garage service. h) Mr.Abebe Alemu paid birr 25,000 birr for different types of expense; ✓ Birr 13,000 for salary of employee. ✓ Birr 5000 for utility like electricity. Telephone & water etc. ✓ Birr 7000 for rent i) Mr. Abebe Alemu withdrew birr 8,000 for his personal use from the business. ii. Instruction i. Analyze the effect of business transaction on the accounting equation Prepare four (4) principal financialstatements from the accounting equation summary.​