A business has the following transactions:

The business is started by receiving cash from an investor in exchange for common stock $20,000

The business purchases supplies on account $500 The business purchases furniture on account $2,000

The business renders services to various clients on account totaling $9,000

The business pays salaries $2,000 The business pays this months rent $3,000

The business pays for the supplies purchased on account.

The business collects from one of its clients for services rendered earlier in the month $1,500.

A. Prepare a tabular analysis for each of the described transactions. Provide explanations for specific revenue and expense accounts in the Explanation column.