Record the effect of each of the following transactions for Hora Company using the financial statement effects template.

a. Wages of $ 500 are earned by employees but not yet paid.

b. $ 2,000 of inventory is purchased on credit.

c. Inventory purchased in transaction

(b) is sold for $ 4,000 on credit.

d. Collected $ 3,000 cash from transaction (c).

e. Equipment is acquired for $ 5,000 cash.

f. Recorded $ 1,000 depreciation expense on equipment from transaction (e).

g. Paid $ 10,000 cash toward a note payable that came due.

h. Paid $2,000 cash for interest on borrowings.