Begin this section by writing out the expanded accounting equation. Then, diagram the following transactions first in the tabular form, and then illustrating the impact on affected T Accounts. Explain why you have recorded the amounts as you did. The first transaction has been done for you as an example:

A Sarah has written a check to purchase some supplies from a vendor.

Assets = Liabilities + Capital + Revenue Expenses

-$300 + $300 = $0 + $0 + $0 - $0

The asset account called Business Checking Bank Account is reduced by the amount of the check, and the asset account called Supplies is increased.

B - Sarah has completed a copy job for a customer for $2,500. The terms of service indicate the customer should make payment within 15 days.

Assets = Liabilities + Capital + Revenue Expenses

C - 10 days later, the Sarah received the full payment in the mail.

Assets = Liabilities + Capital + Revenue Expenses

D - Sarah has written a check for $150 to pay the balance due to one of the company vendors for supplies previously purchased.

Assets = Liabilities + Capital + Revenue Expenses

150=0+0+0-150

In part d of #5 above, what type of transaction will you enter in QBO? If you were using a manual accounting system to record this transaction, how would this process be different? What are all of the necessary steps in a manual accounting system? Which accounting system (automated or manual) is easier for recording all of the impacts of this transaction and why?