m. Made a payment to reduce the prinipal of the note payable n. Made a cash withdrawal. Reguired Analyze each transaction and show the accounts affected by entering the corre- sponding numbers in the appropriate debit or credit column as shown in transac- 128 tion a. Indicate no entry, if appropriate Transaction Analysis, T Accounts, and Trial Balance LO3 L04 LOS P10. Bob Lutz opened a secretarial school called Best Secretarial Training a. Lutz contributed the following assets to the business: Cash $5,700 4,300 3,600 Office Equipment b. Found a location for his business and paid the first month's rent, $260. c. Paid for an advertisement announcing the opening of the school, s190. d. Recelved applications from three students for a four-week secretarial program and two students for a ten-day keyboarding course. The students will be billed a total of S1,300. e. Purchased supplies on credit, $330. f. Billed the enrolled students, $1,740. lyzing Business Transactions g. Purchased a second-hand computer, $480, and office equipment, $380, on credit h. Paid for the supplies purchased on credit in e, $330. i. Paid cash to repair a broken computer, $40 j. Received partial payment from srudents previously billed, $1,080. k. Paid the utility bill for the current month, $90. I. Paid an assistant one week's salary, $440, m. Made a cash withdrawal of $300. Reguired 1. Set up the following T accounts: Cash;, Accounts Receivable; Supplies; Com- puters; Office Equipment; Accounts Payable; B. Latz, Capital; B. L.utz, Withdrawals; Tuition Revenue; Salaries Expense; Uilities Expense, Ren Expense; Repair Expense; and Advertising Expense 2. Record the transactions directly in the T accounts, using the transaction let ter to identify each debit and credit. 3. Prepare a trial balance using today's date was received from the revenues? What business issues might you see arising from the differences in these numbers? nsight4.Examine transactions f and j. What were the revenues and how much cash