Co.€™s general ledger and its first seven transactions a through g, which are posted to them. Identify the explanation from 1 through 7 below that best describes each transaction a through g reflected in the T-accounts, and enter that letter in the blank space in front of each numbered explanation.

________ 1. The company paid $4,800 cash in advance for prepaid insurance coverage.
________ 2. D. Belle created a new business and invested $6,000 cash, $7,600 of equipment, and $12,000 in web servers in exchange for common stock.
________ 3. The company purchased $900 of supplies on account.
________ 4. The company received $4,500 cash for services provided.
________ 5. The company paid $900 cash toward accounts payable.
________ 6. The company paid $3,400 cash for equipment.
________ 7. The company paid $800 cash for selling expenses.

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Cash Web Servers (a) 6,000 (b) 4,800 (a) 12,000 800 4,500 (d) (e) Accounts Payable (f) 900 900 (c) (g) 3,400 (f) 900 Supplies Common Stock (c) 900 (a) 25,600 Prepaid Insurance Services Revenue (b) 4,800 4,500 (e) Equipment Selling Expenses (a) 7,600 3,400 (g) (d) 800