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Question 2 (20 marks) Company XYZ had the following account balances on January 1,2017 Accounts Payable Accounts Receivable Cash Common Stock Equipment Note Payable Retained Earnings Salaries and Wages Expense Supplies S 689 1,000 1,000 10,000 500 3,000 2,911 3,500 100 During January, 2017, XYZ entered into the following transactions: A. Paid S689 on account for utilities that were used during December 2016. B. Purchased $423 of supplies for cash. C. Signed a rental agreement for office space and paid $3,500 in advance for six months of rent beginning February 1, 2016. D. Purchased $15,000 of new equipment, signing a promissory note E. Provided $26,000 of services.$17,000 was received in cash and $9,000 was provided on credit. F. Paid workers $8,300 for work done in January Question 2 (20 marks) Company XYZ had the following account balances on January 1,2017 Accounts Payable Accounts Receivable Cash Common Stock Equipment Note Payable Retained Earnings Salaries and Wages Expense Supplies S 689 1,000 1,000 10,000 500 3,000 2,911 3,500 100 During January, 2017, XYZ entered into the following transactions: A. Paid S689 on account for utilities that were used during December 2016. B. Purchased $423 of supplies for cash. C. Signed a rental agreement for office space and paid $3,500 in advance for six months of rent beginning February 1, 2016. D. Purchased $15,000 of new equipment, signing a promissory note E. Provided $26,000 of services.$17,000 was received in cash and $9,000 was provided on credit. F. Paid workers $8,300 for work done in January

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