at the beginning of the summer, Jack Wells was looking for a way to earn money to pay for his college tuition in the fall. He decided to start a lawn service business in this neighborhood. To get the business started Jack $6000 from his savings account to open a checking account for his new business. Elegant lawn care is the name of the business. He purchased two used power motors and various lawn care tools for $2000 and paid $3600 for a secondhand truck to transport the mowers. Several of his neighborhood hired him to cut their grass on a weekly basis he sent these customers monthly bills by the end of the summer. They have paid him 1200 in cash and owed him another $2300 check also cut grass on an as needed basis for other neighbors who paid him $1000. During the summer, Jack spent $400 for gasoline for the truck and mower. He paid $1000 to a friend to help him on several occasions. An investment in the local paper cost $200 . Not in the summer Jack is concerned because he only has $1000 left in his checking account. He says I worked hard all summer and have only $1000 to show for it. It would have been better to leave the money in the bank. Explain to Jack whether or not he is better off than he was at the beginning of the summer organize the data using T accounts.

Gloria's Fabries is a large fabric provider to the general public. The accounting office has three employes: accounts recehable clerk: accounts paryable clerk and full charge bookkceper. The accounts receivabte clerk creates the sales invoices and records the cash receipts, the accounts payatife clerk createi and parys the purchase orders and the foll charge bookkesper reconciles the checking account. Choose one of the three jobs identify the accounts and describe the transactions that would be tecouded by that asigned fob. What eftect would esch tranaction have on each account? Hew would edch memtier of the accounting deportinent wock together to presem accurate information for the decision makeis