Brothers Mike and Tim Hargen began operations of their tool and die shop (H & H Tool, Inc.) on January 1, 2014. The annual reporting period ends December 31. The trial balance on January 1, 2015, follows:

Transactions during 2015 follow:

a. Borrowed $15,000 cash on a five-year, 8 percent note payable, dated March 1, 2015.

b. Purchased land for a future building site; paid cash, $13,000.

c. Earned $215,000 in revenues for 2015, including $52,000 on credit and the rest in cash.

d. Sold 4,000 additional shares of capital stock for cash at $1 market value per share on January 1, 2015.

e. Incurred $114,000 in Remaining Expenses for 2015, including $20,000 on credit and the rest paid in cash.

f. Collected accounts receivable, $34,000.

g. Purchased other assets, $15,000 cash.

h. Purchased supplies on account for future use, $27,000.

i. Paid accounts payable, $26,000.

j. Signed a three-year $33,000 service contract to start February 1, 2016.

k. Declared and paid cash dividends, $25,000.

Data for adjusting entries:

l. Supplies counted on December 31, 2015, $18,000.

m. Depreciation for the year on the equipment, $10,000.

n. Interest accrued on notes payable (to be computed).

o. Wages earned by employees since the December 24 payroll but not yet paid, $16,000.

p. Income tax expense, $11,000, payable in 2016.

Identify the type of transaction for (a) through (k) for the statement of cash flows (O for operating, I for investing, F for finacing), and the direction and amount of the effect.

Account Titles Debit Credit Cash Accounts receivable Supplies Land Equipment Accumulated depreciation (on equipment) Other assets (not detailed to simplify) Accounts payable Wages payable Interest payable Income taxes payable Long-tem notes payable Common stock (8,000 shares, $0.50 par value) Additional paid-in capital Retained earnings Service revenue Depreciation expense Supplies expense Wages expense Interest expense Income tax expense Remaining expenses (not detailed to simplify) 6,000 5,000 13,000 78,000 8,000 7,000 4,000 80,000 7,000 Totals 109,000 109,000