1 Web Solutions is a very successful website development corporation. It has been developing custom made websites and web related graphics for the past 5 years. As the company has been experiencing rapid growth the owner Mr. Jay has decided to hire an accountant to keep track of the corporation's finances. You have recently been hired as that accountant. Your job is to keep track of all transactions that financially impact the business. You are also required to develop monthly balance sheets to show to Mr. Jay and record the beginning and ending balance for debits, credits, assets, liabilities and owners equity for each month. December Transactions (Enter the following transactions into the appropriate Taccounts) 1. Purchased Photoshop software for $850 on account from Best Buy 2. Mr. Jay invested $5,000 in the business. 3. Customer, John Davis, paid past due bill for $1,000 Beginning Ending 4. Purchased 10 new computer mice for $25 a mouse with Debits cash Credits 5. Purchased 6 boxes of computer paper for $30 a box on a Assets account from Office Max. 6. Paid cash for new flat screen monitors $2,000. Liabilities 7. Paid $500 on Best Buy account. Owners 8. Bought Christmas cards with Cash for SSO. Equity 9 Paid $100 on Office Max account L+O.E. 10. Received $1700 from Sales. SUPPLIES SOFTWARE CASA 10,000 COMPUTER HARDWARE 200 SALES ACCT, RECI JOHN DAVIS 3,000 "ACCT PAYZ BEST BUY ACCT PAYI OFFICE MAX RENT EXPENSE UTILITIES EXPENSE MR. JAY (CAPITAL) 15,200 MR. JAY DRAWING) 2,000 Create an Income Statement for the end of the month. Create a Balance Sheet for the end of the month