Complete the following schedule for Red Eye Company.

Note: Enter decreases to an element of the balance sheet with a minus sign.

Transaction

Beginning balances

Borrowed $$20,700$ cash by signing a note payable with a bank.

Collected accounts receivable for cash, $$7,700.$

Paid accounts payable, $$8,700$ cash.

Purchased office supplies on credit, $$2,700.$

Sold common stock, at par value, to new investors in exchange for $$20,700$ cash.

Paid income taxes payable of $$12,700.$