M3-7 (Algo) Determining the Financial Statement Effects of Operating Activities Involving Expenses LO3-4 The following transactions are July activities of Bennett's Bowling, Incorporated, which operates several bowling centers, affering customers lanes for games, snack bar service, and merchandise for sale from the pro shop. e. Bennetts purchased $380 in food supplies for the sneck bar; paid $260 in cast and owed the rest an account with the suppliet t. Bennett's paid $3,200 on the electricity ball for June (recorded as an expense in June). 9. Bennett's paid $4,400 to employees for work in July. h. Bennett's purchased $1.800 in insurance for coverage from August 1 to November 1 . 1. Bennett's paid $3,400 to plumbers for repaiting a broken pipe in the restrooms: 1. Bennett's received the July electricity bill for $3,300 to be paid in August. For each of the above transactions, complete the tabulation, indicating the amount and effect of each transaction. (Aemember that Assets = Liabilities + Stockholders' Equity; Revenues - Expenses = Net income; and Net income affects Stocktiolders' Equity through Retained Earnings.) The first transaction is provided as an example. Note: Reductions in account balances and loss amounts should be indicated with a minus sign