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The following transactions occurred during a recent year: 5 1 points a. Paid wages of $1,100 for the current period (example). b. Borrowed $5,500 cash from local bank using a short-term note. c. Purchased $2,200 of equipment on credit. d. Earned $440 of sales revenue; collected cash. e. Received $880 of utilities services, on credit. f. Earned $1,870 of service revenue, on credit. g. Paid $330 cash on account to a supplier. h. Incurred $75 of travel expenses; paid cash. i. Earned $440 of service revenue; collected half in cash, with balance on credit. j. Collected $110 cash from customers on account. k. Incurred $320 of advertising costs; paid half in cash, with balance on credit. eBook References Required: 1. For each of the transactions, complete the following table, indicating the account, amount, and direction of the effect (+ for increase and - for decrease) of each transaction under the accrual basis. Include revenues and expenses as subcategories of stockholders' equity, as shown for the first transaction, which is provided as an example. 2. Determine the company's preliminary net income. Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Required 1 Required 2 For each of the transactions, complete the following table, indicating the account, amount, and direction of the effect (+ fo transaction under the accrual basis. Include revenues and expenses as subcategories of stockholders' equity, as shown for example. (Enter any decreases to Assets, Liabilities, and Stockholder's Equity with a minus sign.) Transaction Assets = Liabilities + Stockholders' Salaries and Wages Expen: a. Cash (1,100) = + b. + C. = + d. = + e. = + f. + g. = + h. = + i. = + = + i. j. = + = + j. k. + Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine the company's preliminary net income. Preliminary Net Income

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