6 Cintu is a large marketer and distributor of food service products serving restaurants, hotels, schools, hospitals, and other institutions. The following transactions are typical of those that occurred in a recent year, but the amounts are simplified a. Borrowed $125,500 from a bank, signing a short-term note payable b. Provided $111,600 in service to customers, with $104,800 on account and the rest received in cash c. Purchased equipment for $145,000 in cash. d. Incurred and paid employee wages of $1,300. e. Received $415 on account from a customer Incurred and paid $4,150 cash for travel costs during the year. g Paid $9,850 cash on accounts payable. h. Incurred $25,100 in utility expenses during the year, of which $19,700 was paid in cash and the rest owed on account Required: 1. For each of the above transactions, prepare accrual basis journal entries. 2. Calculate the company's preliminary net income