2. Nunya Business performed services for one month on account for $28,000.

3. Nunya Business has received 25% of the amount recorded in transaction 2 as partial payment of the accounts receivable.

4. Nunya Business paid 10% of $28,000 as salary expense

5. Nunya Business paid 6% of $28,000 as rent expense

6. Nunya Business paid a $280 cell phone bill

7. Nunya Business received a cash prepayment of $5620 from a second customer

8. Record an adjusting entry to recognize %25 of the prepayment from transaction 7 as revenue

Assets Liabilities +Shareholder's Equity Profit & Loss Common Retained Cash eivableLiabilitiesStock Earnings Accounts Net Entry Exp ses = Income Cash Flow Expense Account 33,720 33,720 N/A Revenue 33,720 33,720