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Rachel Walter opened a dormitory locator business called Room Finders near a college campus. During the first month of operations, July 2019, Rachel had the following transactions. 1) Invested $15,400 of personal funds to start the business. 2) Incurred travel expenses for $820, which will be paid later. 3) Paid $660 cash for maintenance expenses. 4) Received $5,100 cash for services provided to clients. 5) Paid $820 related to the purchase in transaction 2. 6) Paid three months of office rent in advance, in the amount of $1,500. 7) Incurred $420 of utilities expenses, which will be paid next month. 8) Received $940 cash from a customer for services to be provided in two months. 9) Provided $1,080 in services for a customer who will pay later. 10) Recognized one month of office rent that was prepaid. 11) Rachel withdrew $960 cash for personal use. 12) Purchased a second-hand car worth $6,910 for business use with cash. 13) Received $610 from the customer in transaction 9. Required Prepare a T-Account worksheet. Do not enter dollar signs or commas in the input boxes. Use the negative sign for negative values. The T-Account fields are labeled by transaction number. Record each transaction by entering the value into the corresponding I- Account field. Room Finders Balance Sheet As at July 31, 2019 Assets (what we OWN) Liabilities (what we OWE) Increase Decrease Decrease Increase Cash Accounts Payable Opening: $ Opening: $ Transaction #1 Transaction #1 Transaction # 12 Transaction #2 Transaction # Transaction # 3 3

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