35- Use the following transactions to answer the below questions.1. Mr. Douglas invested $25,000 cash in the business. 2. Purchased equipment worth $7,000 with a $500 down payment. The remainder is duein 30 days. Paid $900 cash for a six-month insurance policy. Received $3,000 cash from customers for services rendered. Paid wages, $1,750. Received and paid advertising bill of $100. Performed services worth $2,500 for credit customers. Received $1,700 cash from customers previously billed on account. assess-i» . Mr. Douglas withdrew $5,300 cash for personal use.10. Paid utility bill, $205. Required: Record each transactions in the T accounts below. Indicate next to each entry the number for thattransaction. After all transactions have been recorded, foot the accounts where necessary and enterthe balances in the proper places. Cash (1) I—(4) I—(a) I— Bal. '— Accounts Receivable (7) l— (a) I—3... l— Prepaid Insurance