Analyzing expense transactions Examine the following transactions and identify those that create expenses for Valdez Services. Use debitcredit rules to record the transactions that create expenses. Explain why the other transactions did not create expenses.

a. Paid \($12,200\) cash for office supplies that were purchased on account more than 1 year ago.

b. Paid \($1,233\) cash for the receptionist’s salary for the two weeks just completed.

c. Paid \($39,200\) cash for equipment.

d. Paid \($870\) cash for this month’s utilities.

e. Owner (B. Valdez) withdrew \($4,500\) cash for personal use.