complete sheet

Compiete the answer sheet with the column headings shown here. For each of the folowing transactions or adjustments, indicate the effect of the transaction or adjustment on the approprate calegory and on net income by selecting for each accoune aeced he account name and acunt and ndicating whether t is an adstion () or a subtraction ). Transaction a has been done as an Bustration. Net income s not affected by every transaction In some cases only one colume may be affected because al of the specfe accounes affected by the transaction are included in that category balance sheet a. Accrued interest income of $15 on a note receivable b. Determined that the Allowance for Bad Debts account balance should be decreased by $4,800 because xperse during the year had been overestimated c. Wrote cf an aceount recelvable of $2,160 d. Received cash from a customer in full payment of an account recelvable of $750 that was paid within the 2% dscort period A Cash Discout wance account is mantared e. Purchaseg eight urnits of a new item of nvenlory on account at a cost ot $80 each. Perpetual inventory t. Purchased 17 more unts of the above tern at a cost of $57 each. Perpetual invertory is maintained. g. Sold 20 of the items purchased (h e and f) and recognized the cost of goods soid using the LIFO cost ow ansumption. Perpetual h. Paid a one-year insurance premium of $720 that applied to the next fscal year L Recogroee insurance expense feited ite preceding poic y durig hfrat month of the bea year to which t applied a. herest recelvable +35 80 809