14. Use the following information to answer the question. First, add Accounts Payable-J. C. Hollings and Accounts Payable-Craft Bank from the transactions prepared in Exam Figure 2 to the chart of accounts in Exam Figure 1. Analyze and prepare journal entries for the following transactions on the form provided in Exam Figure 2. Pencil-foot the debit and credit columns. (A) 5/1-Purchased a new calculator for the office for $690 on account from J. C. Hollings, Inc., memo 3. (B) 5/2-Purchased $3,500 of equipment for the store on account from Craft Bank, memo 4. (C) 5/4-Paid cash, $42.92, for supplies, check 4. (D) 5/5-Paid cash, $1,000, to Bellhaven Bank for amount owed on account, (check 5). Next, open all ledger accounts using the form in Exam Figure 3. Then, post the journal entries from Exam Figure 2 to the ledger accounts and balance each ledger account. Be sure to post the balance of each account (the information is shown below) before you post the transactions you just journalized. Accounts Payable-Bellhaven Bank-$5,000 P. Woodsley, Capital-$5,256.82 Cash-$4,056.82 Prepaid Insurance-$500 Accounts Payable-Taylor Investments-$3,700 Next, open all ledger accounts using the form in Exam Figure 3. Then, post the journal entries from Exam Figure 2 to the ledger accounts and balance each ledger account. Be sure to post the balance of each account (the information is shown below) before you post the transactions you just journalized. Accounts Payable-Bellhaven Bank-$5,000 P. Woodsley, Capital-$5,256.82 Cash-$4,056.82 Prepaid Insurance-$500 Accounts Payable-Taylor Investments-$3,700 Equipment-Store-$4,500 Equipment-Office-$4,400 Supplies-$500 After posting the journal entries to the ledger, the opening balance of the P. Woodsley-Capital account was OA. increased. B. decreased. OC. deleted