Determine the financial effect on the balance sheet and income statement for each of the following independent events using the Transaction Analysis Template. a. Purchased inventory on account, $10,000. b. Rendered services to clients on account, $12,000. c. Paid wages for the week, $1,600. d. Collected $8,000 from clients on account.

Transaction Analysis Template Determine the financial effect on the balance sheet and income statement for each of the following independent events using the Transaction Analysis Template. a. Purchased inventory on account, $10,000. b. Rendered services to clients on account, $12,000. c. Paid wages for the week, $1,600. d. Collected $8,000 from clients on account. Notes: Use negative signs with answers, when appropriate. If a transaction increases and decreases the same Balance Sheet category, enter the increase amount in the first row, followed by the decrease amount in the row directly be