Activity 5 A. Hoysted is a sign painter and truck letterer. Her business has the following assets and liabilities Assets Bank A/R-G. Anderson A/R-N. Ostrowski Office Supplies Painting Supplies Office Furniture Automobile Liabilities $2 216 Bank Loan $6.500 357 A/P-Consumers' Supply A/P-Nu-Style Furniture 402 2 980 4 120 5 090 1 375 2 951 Loan Payable, M. Hoysted 1 980 20 000 1. Set up A. Hoysted's financial position in the T-accounts provided in the spreadsheet. Include the equity account. 2. For the transactions listed below, record the accounting entries in T-accounts. If it is helpful for you, use a transaction analysis sheet. Transactions 1. Received $200 cash from a customer for painting a sign. 2. Paid $500 to Consumer's Supply. 3. Received $402 cash from N. Ostrowski. 4. Sold an extra office desk(which is included in the Office Furniture figure at $450) to G. Brand at a price of $250. Brand paid $100 cash and owed the balance. 5. Reduced the bank loan by $1 000. 6. Paid the regular monthly bank loan payment, $500. 7. Paid the balance owing to Consumers' Supply. 3. Calculate the account balances and balance the ledger by taking off a trial balance