edugen/shared/Aws/main.uni?assignment- asnmt22685468agtype 38iclassid-cls68671 CALCULATOR PRINTER VERSION B ractice Do It! Review 1 ndicate whether each of the five statements presented below is true or false. 1. The three steps in the accounting process are identification, recording, and examination 2. The accounting process includes the bookkeeping function 3. Managerial accounting provides reports to help investors and creditors evaluate a company. The two most common types of external users are investors and creditors. 5. Internal users include human resources managers. Click if you would like to Show Work for this question: Please save your WhiteBoard work as an image and send to your instructor outside of 4. Question Attempts: o of 3 used C CHECK ANSWER ai e om/edugen/shared/ws/main.uni?assignment asnmt22685488agtype-38iclassid-cls6867188mode -student&icontext book CALCULATOR PRINTER v On April 1, Jennifer Davis established Davis's Travel Agency. The following transactions were completed during the month. 1. Invested $18,000 cash to start the agency. 2. Paid $600 cash for April office rent. 3. Purchased equipment for $2,500 cash. 4. Incurred $600 of advertising costs in the Chicago Tribune, on account. 5. Paid $600 cash for office supplies. 6. Performed services worth $11,000: $3,400 cash is received from customers, and the balance of $7,600 is billed to customers on account. 7. Withdrew $400 cash for personal use. 8. Paid Chicago Tribune $400 of the amount due in transaction (4). 9. Paid employees' salaries $2,200. 10. Received $4,600 in cash from customers who have previously been billed in transaction (6). Complete the tabular analysis of the transactions. (If a transaction results in a decrease in Assets, Liabilities or Owner's Equity, place a negatis parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See Illustration 1-8 for exa DAVIS'S TRAVEL AGENCY