ASAP PLEASE AND THANK U!!

Furniture Fix-Up is your own business. You restore and refinish antique wood furniture making the tables, chairs, desks, cabinets etc, look as good as new. You use your own car to pick up and deliver pieces, and your own cell phone to take reservations from customer. Your first month's transactions are listed below. April 1 You set up a bank account and acquire a business credit card, The bank will charge you a fee of $12 at the end of each month. April 3 April 4 April 2 You borrow $1,600 from the bank You deposit $5,000 of your own money into the business bank account Your parents lend you an additional $5,000. They will not charge you interest, but want to be paid back within three years. April You register your business name for $60 with Service Ontario, using the business credit card. You purchase, using your business credit card, supplies (le, varnish, shellac) April Hor $500 plus HST April 7 You purchase, using your business credit card, 54,100 worth of power tools From Home Depot. HST is already included April 8 You buy a two-year liability insurance policy for $2.400, plus 8% tax, paying cash April 10 You purchase for $300 cash, plus HST. 600 flyers to advertise your business. You haven't used any yet April 11 You pay a student $80 cash to distribute 400 of your flyers, April 12 You fixed one chair for a customer for free, to see the liked it and would hire you for the rest of the set. You would normally have charged him $100. Two more customers hire you to restore their dining room sets You will charge April 15 them each $3,000 when you finish the job. They EACH give you a $1,000 cash deposit April 27 Business is booming You have so far collected $2.200 cash for servicen homeowners. April 28 You now have only $250 worth of supplies left April 20 You spent 5156 from your personal funds in car expenses this month Two-thirds of this was business travel. The business pays from the bank account April 30 You received your cell phone bill for the month of the 588, halt were business calls. The business will reimburse you next month April 30 One month of your insurance policy has expired April 30 The bank takes its monthly charge from the business bank account plus an additional 56 for interest on your loan You deliver the furniture to one of the April 15 customers April 30 Ho will pay you his balance next week. IGNORE the effect on inventory April 30 You pay two-thirds of the balance owing on the business credit card. You will pay the rest next month Record the transactions into the expanded accounting equation using account names. Use that Information to answer all of the following questions Question 61 (2 points) What is FFU's total service revenue for April? A/ Question 62 (2 points) How much will FFU's Prepaid Insurance balance be at the December 31 year-end