a. Paid wages of $300 for the current period (example). b. Borrowed $1,500 cash from local bank using a short-term note. c. Purchased $600 of equipment on credit. d. Earned $120 of sales revenue; collected cash. e. Received $240 of utilities services, on credit. f. Earned $530 of service revenue, on credit. g. Paid $90 cash on account to a supplier. h. Incurred $25 of travel expenses; paid cash. 1. Earned $120 of service revenue; collected half in cash, with balance on credit. j. Collected $55 cash from customers on account. k. Incurred $120 of advertising costs; paid half in cash, with balance on credit. Required: 1. For each of the transactions, complete the following table, indicating the account, amount, and direction of the effect (+ for increase and for decrease) of each transaction under the accrual basis. Include revenues and expenses as subcategories of stockholders' equity, as shown for the first transaction, which is provided as an example. 2. Determine the company's preliminary net income. Complete this question by entering your answers in the tabs below. Required 1 Required 2 For each of the transactions, complete the following table, indicating the account, amount, and direction of the effect (+ for increase and for decrease) of each transaction under the accrual basis. Include revenues and expenses as subcategories of stockholders' equity, as shown for the first transaction, which is provided as an example. (Enter any decreases to account balances with a minus sign.) Assets Liabilities Stockholders' Equity Salaries and Wages Expense a. Cash (300) 1,500 (300) ) b. Cash Notes Payable (short-term) Accounts Payable 600 c. Equipment Cash d. 120 e. Accounts Payable Sales Revenue Utilities Expense Service Revenue 120 (240) 530 f. Accounts Receivable g. Cash Accounts Payable h. Cash Travel Expense Service Revenue i. Cash Accounts Receivable j Cash Accounts Receivable k. Cash Accounts Payable Advertising Expense Required: 1. For each of the transactions, complete the following table, indicating the account, amount, and direction of the effect (+ for increase and for decrease) of each transaction under the accrual basis. Include revenues and expenses as subcategories of stockholders' equity, as shown for the first transaction, which is provided as an example. 2. Determine the company's preliminary net income. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine the company's preliminary net income. Preliminary Net Income