Moseley Supply began when Lynette Moseley invested $75.000 cash in a business bank account. During the first week, the business purchased supplies on credit for $8.000 and paid $12,000 cash for equipment. Moseley later paid $5,000 on account. Required 1. Open the following T-accounts: Cash: Supplies: Equipment: Accounts Payable: Lynette Moseley, Capital. 2. Record the four transactions described above directly in the T-accounts without using a journal. 3. Compute the balance in each account, and show that total debit balances equal total credit balances alter you have recorded all the transactions. The T-accounts on page 48 provide a guide for your answer. Continuing Exercise Exercise 2-15 is the first exercise in a sequence that begins an accounting cycle. The cycle is completed in Chapter 5.