E3-10 (Algo) Recording Journal Entries and Determining Net Income [LO 3-2, LO 3-3] Cintu is a large marketer and distributor of food service products serving restaurants, hotels, schools, hospitals, and other institutions The following transactions are typical of those that occurred in a recent year, but the amounts are simplified a. Borrowed $107,000 from a bank, signing a short-term note payable b. Provided $109,600 in service to customers, with $104,600 on account and the rest received in cash c. Purchased equipment for $159,000 in cash. d. Incurred and paid employee wages of $2,000. e. Recelved $905 on account from a customer f incurred and paid $5,600 cash for travel costs during the year 9 Paid $7,600 cash on accounts payable. h. incurred $31,200 in utility expenses during the year, of which $24,800 was paid in cash and the rest owed on account Required: 1. For each of the above transactions, prepare accrual basis journal entries. 2. Calculate the company's preliminary net income. For each of the above transactions, prepare accrual basis journal entries. (If no entry is required for a transa. Journal Entry Required" in the first account field.) Journal entry worksheet 5678 Borrowed $107,000 from a bank, signing a short-term note payable. Record the transaction. Note: Enter debits before credits. Complete this question by entering your answers in the tabs below. Calculate the company's preliminary net income