In the left two columns list the number and short description of the transaction. Then enter the respective transactions to the accounts on the right. You may use more than one row for a single transaction, if that is helpful. + Assets +Accounts + Notes Cash Receivable +Inventory Receivable 50.500 $ 42.500$ 18,000 $ + Equipment Liabilities Equity +Prepaid Accounts +Notes + +Prepaid Contractor's Expense Payable Payable Services Equity S S 1,500 $ 45,000 $ 10.000 $ - $ $ 57,500 $ S Item Transactions Balance Sheet as of March 31 1 Materials a Purchased $15,000 worth of materials on credit b Purchased $12,000 worth of materials by paying cash C Installed materials worth $20,000 on ongoing projects d Returned $3,000 worth of materials to supplier and received a full cash refund a 2 2 Labor a Incurred (i.e., recognized) $22,000 worth of labor expenses for work performed b Paid $20,000 of the labor expenses that were incurred in April C Paid $8,000 of the labor expenses that were incurred earlier in February 3 Subcontracts a Incurred (i.e., recognized) $52,000 in subcontract costs on ongoing projects b Paid $8,000 of the past subcontract bills 4 Revenue and Billing a Billed $110,000 to owners for work performed in April b Received $35,000 on work that was completed and billed earlier in the year 5 General and Administrative a Paid $5,000 office worker payroll b Purchased and paid for $12,000 worth of office equipment having a 2 year (24 month) life on April 15 c Purchased $2,000 office supplies for cash d Paid $1,000 for office supplies purchased earlier in the year e Gave an interest-free loan of S4000 to a new employee for moving expenses f Rented modular formwork (on April 1) from supplier (rent $1000 per month) and paid $4,000 in advance g Contractor withdrew $3,000 from the company to pay for personal expenses h Rented out company equipment to another contractor at $500 per month. The contract was signed on April 15 and Big Blue Construction received $2,000 rent in cash from the other contractor as advance payment e