es Prepare an answer sheet with the column headings shown here. For each of the following transactions or adjustments, indicate the effect of the transaction or adjustnent on the appropriate balance sheet category and on net incorne by entering for each accOunt affected the accOunt name and amount and indicating whether it is an addtion (t) or a subtraction () Transaction a has been done as an illustration. Net income is not affected by every transaction. In some cases only one colunn may be affected because all of the specific accounts affected by the transaction are included in that category. a. Accrued interest revenue of $22 on a note receivable. b. Paid $2100 in cash as an advance rent payment for a short-term lease that covers the next four months c Recorded an adjustment at the end of the first month (in b) to show the amount of rent "used in the month. d. Inventory was acquired on account and recorded for $980. Perpetual inventory is maintained. e. It was later determined that the amount of inventory acquired on account (in d) was erroneously recorded. The actual amount purchased was only $890. No payments have been made. Record the correction of this error. f. Purchased 19 units of inventory ata cost of $32 each and then 6 more units of the same inventory itern at $36 each. Perpetual inventory is maintained. g. Sold 20 of the items purchased (in ) for $62 each and received the entire amount in cash. Record the sales transaction and the cost of goods sold using the LIFO cost flow assumption. Perpetual inventory is maintained. h. Assume the same facts (in g) except that the company uses the FIFO cost flow assumption. Record only the cost of goods sold i. Assurme the same facts (in g) except that the company uses the weighted-average cost flow assurnption. Record only the cost of goods sold. (Do not round your intermediate calculation.) Iransaction Current Assets Q Search CurrentLiabilities < Prev 8 of 15 Stockholders Equity Next > a Net lncome Cieck y wo ENG 0