A L P. o R S M N O Profit & Loss B C D Assets Accounts Cash Receivable 75,390.00 63,000.00 E F G H K Liabilities + Shareholder's Equity Common Retained = Liabilities + Stock + Earnings 75,390.00 ####### Net Income Cash Flow Entry # + Revenue Expenses Account Name 1 FA 2 63,000.00 #######O Revenue Check FALSE TRUE TRUE TRUE TRUE 3 4 5 6 7 FALSE FALSE FALSE 8 75,390.00 63,000.00 75,390.00 ####### 63,000.00 ####### 1. Nunya Business started operations on July 1, 2019 with an initial issue of common stock. The amount is 75,390. 2. Nunya Business performed services for one month on account, the amount of this revenue is 63,000. 3. Nunya Business has received 25% of the amount you recorded in Transaction #2 as partial payment of its accounts receivable. 4. Nunya Business paid 10% of the amount you recorded in transaction #2 as salary expense 5. Nuova Business paid 5% of the amount you recorded in transaction #2 as rent expense 6. Record the payment of the telephone bill. This amount is 1% of the amount that you recorded in transaction #2 7. Cash payment for second customer. This amount is 12,000./ 8. An adjusting entry to recognize 25% of the prepayment from transaction #7 as revenue