14. Andy Ltd. has the following selected transactions: 1. Issued common shares to shareholders in exchange for $5,000. 2. Paid rent in advance for two months, $2,100. 3. Paid administrative assistant $500 salary. 4. Billed clients $1,200 for services provided. 5. Received $900 in partial payment from clients for services provided in item 4 above. 6. Purchased $500 of supplies on account. 7. Paid supplier amount owing on account, $500. 8. Borrowed $1,000 cash from the bank to purchase equipment. Journalize the transactions. 15. Transactions that affect cash do not necessarily affect net income. Identify the impact, if any, of each of the following transactions on cash and net income. The first transaction has been completefl for you as an example. Cash Net income -$100 $0 (a) Purchased supplies for cash, $100. (b) Made an adjusting entry to record use of $75 of the supplies in item (a). (c) Performed services on account, $1,000. (d) Received $800 from customers in payment of their account in item (e). (e) Purchased equipment for cash, $5,000. (1) Made an adjusting entry to record depreciation of the equipment in item (e), $1,000. (g) Obtained a $1,000 bank loan. (h) Made an adjusting entry to accrue interest on the loan in item (g), $50. (1) Received $500 cash for services to be performed in the future. 6) Made an adjusting entry relating to the amount received in item (i) to show that $200 of the services had now been performed. (k) Made an adjusting entry to record utilities incurred but not yet paid, $250