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Information below is related to XYZ Company: 1- Prepare journal entries for the following transactions. Then indicate the effect (+ or -) of the journal

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Information below is related to XYZ Company: 1- Prepare journal entries for the following transactions. Then indicate the effect (+ or -) of the journal entry on the accounting equation. Use the table on the following page 1- March 1: The XYZ Company signed a 6 month rent of a building, which is effective Marchl. XYZ Company prepaid the full amount of the 6 months rent for $24,000. 2- March 1: XYZ Company lends $400,000 to ABC Company at an interest rate of 12% for 2 months. Principal and interest will be received at the end of two months 3. March 2: XYZ Company received $6000 from its customers, and agreed to provide services for the next 2 months (including this month). 4- March 30: XYZ Company received its utilities bill of $100, which will be paid April 10. ACCOUNT NAME Dobit Credit Assets-Liabilities - Equity 1- March 1- March 2. March 30- March Assuming that the company had a balance of cash at the end of February of $500,000, compute the balance of cash at the end of March? (show the T account)

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