Instructions Entries Intructions: Review cach of the 20 accounting entries. Write a brief description of the purpose of the entry. You also need to state how the entry impacts Net Income and the effect the entry has on the balance sheet. Example: Debit Credit 50,000 Cash Fixed Asset Accumulated Depreciation Gain on sale Explanation Entry To record disposal of a fixed asset. Income increases by the gain on sale and Assets increase $5,000 122,500 77,500 5,000 This assignment is due November 21 by midnight. Late submissions will not be accepted. Save your work in an excel file and email your answers to smith349@pfw.edu. Instructions Entries Sa Accent Design Credit Epis 1 21 Access Part 1418221 3 New Beetle 5 975 1 Inne per Prepaid france + C Acable Legal Accounts Payable 11.456 11.456 147.5 1.100:55 Accounts Payable 1100 4736 les 112 19 55 + Towd Meals Office Supply Postage Cub Over Short Cash Acciale Indy 23404 225 225 06534 78,44562 Acer Payable Cah 10 Depreciation Accumulated Popid Supplies Cash 4567 201467 2.217 194 12 Supply Expo Prepaid Supplies N 11 Deferred magica 14 red harde Sales Revue 1365 9.461 26.00 13.000 247855 15 Say Thurt Witpane TCAP TICA MachExperie 401k withheld 401k Company Mix Federal Stance Tur Whela Employer Health Care Centre Cash 3. 6.744 719 22301 150.000 150.000 16 Cand Note Payable Chaselluk 17 Cash IN Allowme fol Account Ac Receivable 100 2015 15 19 Layable Interest in pere Ch 003 20 Cost of Good Sold 723542 72.5562