For each of the following transactions or adjustments, indicate the effect of the transaction or adjustment on assets, liabilities, and net income by entering for each account affected the account name and amount and indicating whether it is an addition (+) or a subtraction (). Transaction a has been done as an illustration. Net income is not affected by every transaction. In some cases, only one column may be affected because all of the specific accounts affected by the transaction are included in that category.

1. Recorded $200 of depreciation expense.
2. Sold land that had originally cost $9,000 for $13,000 in cash.
3. Acquired a new machine under a financing lease. The present value of future lease payments, discounted at 9%, was $12,000.
4. Recorded the first annual payment of $2,200 for the leased machine (in part c).
5. Recorded a $6,200 payment for the cost of developing and registering a trademark.
6. Recognized periodic amortization for the trademark (in part e) using a 30-year useful life.
7. Sold used production equipment for $18,000 in cash. The equipment originally cost $47,000, and the accumulated depreciation account has an unadjusted balance of $23,500. It was determined that a $1,200 year-to-date depreciation entry must be recorded before the sale transaction can be recorded. Record the adjustment and the sale.