6. Draw the general format of a Balance Sheet. 7. Explain what is meant by Double-entry accounting b. Borrowed $80,000 for renovations on addition to the funeral home from local bank c. Received cash of $10,000 from customer for payment on account from previous month after service. d. Purchased a Hearse (equipment) for $54,600 on account. 4. Place a " X " in the appropriate column. e. Paid bi-weekly payroll to employees $3,320. f. Paid electric bill for the month of July, $230.00. 8. Indicate how the following transactions would be recorded(debits/credits), using the TAccounts: Also, place both account names at the top of each T-account that would be used in the transaction and place the monetary value where it should be recorded (debit/credit). Use the following account names for the transactions listed below. a. Collected $800 from a client. 5. For the following transactions, show how these will affect the Balance Sheet using the Accounting Equation: Place a "I" for increase and "D" for decrease with the accounts associated with each transaction a. Purchase land on credit b. Purchase a truck for company, half cash, half on credit c. Purchase office furniture on account d. Take out a loan from the bank e. Customer bought supplies on account f. Owner invested money into the company g. Owner withdrew money from the company