Lightning, Inc. has provided you with the following beginning balances: Accounts Receivable 30,000 Accounts Payable 25,000 Accumulated Depreciation 20,000 Cash 85,000 Depreciation Expense 0 Insurance Expense Office Equipment 25,000 Prepaid Insurance 8.000 Revenue 90,000 Unearned Revenue 15,000 Utility Expense Although the accounts are shown with a positive balance, they have the normal debitor credit balance that accounts in their account type have (eg. - assets have a debit balance, liabilities have a credit balance) The following transactions occurred during the month (1) Paid accounts payable invoices of $8,000 (2) Deposited customer payment of $12,000 for amount previously invoiced. (3) Purchased office equipment with cash of $4.000 (4) Recognized 56,000 revenue relating to a customer payment made in advance of services being provided (5) Recorded depreciation expense of $1,000 (5) Paid $12,000 for annual ability insurance policy with an effective date of the current month. (7) Sent out a 57,000 customer invoice for current month services (8) Received $1.200 bill for current month utilities. The bill will be paid next month. All accounts required for these transactions are included above. DOLL HINT: Set up t-accounts for all eleven accounts, enter the beginning balances for each account, post your transactions, calculate your ending balances What are the ending balances for Accounts Receivable Accounts Payable Accumulated Depreciation Cash Depreciation Expense Insurance Expense Office Equipment Prepaid Insurance Revenue Uneared Revenue Utility Expense You must format your answers as follows: For debit balances Sx.xxx For credit balance ($x,xxx)