* Exit Fullscreen Karen Huntley, an accountant, owns a business with the following assets and liabilities: Assets Liabilities Bank $4 000 A/P-A. Borg & Son $1 000 A/R-R. Fawcett 300 A/P-Familiar Finance 3 000 A/R-O. Reingold 2 500 A/P-Proctor's Ltd. 700 A/R-R. Steffan 700 Supplies 800 Equipment 12 000 Automobile 10 000 Use the Google Sheets template provided - Complete the question a)Set up the financial position of Karen Huntley in T-accounts. ( 1 mark) b) In these T-accounts, record the accounting entries for the transactions listed below (1 mark each) 1. Received $2 500 cash from O. Reingold in payment of his debt to the business. 2. Paid $1 000 cash to A. Borg & Son. 3. The owner withdrew $500 cash from the business for her personal use. 4. Performed an accounting service for R. Fawcett at a price of $370. Mr. Fawcett will pay for the service later. 5. Paid $200 cash to repair the office air conditioner (included in the Equipment figure). 6. Performed an accounting service for Chris Scott. He paid $200 cash. 7. Received $500 cash for an old computer. The computer is included in the Equipment figure at $2 000. 8. Huntley paid $75 cash for supplies. She paid for these supplies out of her own funds. 9. Purchased a printer at a cost of $800 from Proctor's Limited. Paid cash. c)Prepare a trial balance