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Q2: (5) The items making up the balance sheet of Rankin Truck Rental at December 31 are listed below in tabular form Owners Assets Llabilities Equity Accounts Office Notes Accounts Cash + Receivable + Trucks + Equipment - Payable + Payable + Capital Stock Balances $9,500 $13.900 $68.000 $3,800 $20,000 $10.200 $65,000 Show the effects of the given transactions in the given table and show that assets= liabilities plus owner's equity 1. Bought truck at a cost of $5600, Paid $3000 and remaining amount will be paid within 10 days. 2. Collected $26000 of accounts receivable. 3. Paid $3,200 of accounts payable. 4. Borrowed $15,000 from a bank. Signed a note payable for that amount. 5. Purchased office equipment for 815000 on cash 6. Sold additional stock to investors for $50,000. tabular form similar to the illustration of the accounting equation in Exhibit 2-11. L02-3 PROBLEM 2.4A An Alternate Problem on Recording the Etfects of Transactions Assets Owners Equity Liabilities + Cash Accounts Office + Receivable + Equipment + Trucks Notes Payable Accounts Payable Balances $9,500 + + Capital Stock $13,900 $3.800 $68.000 $20,000 $10.200 $65,000 During a short period af The itens making up the balance sheet of Phillips Truck Rental at December 31 are listed her

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