Master of Science ACCT6305-Accounting for Managers DALLAS UTD Programs NATEENINDAL Assignment 02: Balance Sheet, Income Statement, and Revenue Recognition Due: Upload by the Beginning of Session 4 PARTI: Balance Sheet Data: The financial statements from Computer Programs and Systems (NASDAQ: CPSI 2013 annual report are attached. You can refer to these for names of line items for the journal entries. Requirement: Construct journal entries for each of the following hypothetical transactions during the next quarter. Also, indicate on the chart on page 3 which of the following balance sheet categories are affected by those transactions: current assets (CA), non-current assets (NCA), current liabilities (CL), non-current liabilities (NCL), and equity (E). The numbers are rounded to $1,000s. Example: Prepaid marketing expenses of $2,150 (short-term) Solution: Dr. Prepaid expenses (CAT) $2,150 Cr. Cash (CFO, CAI) $2,150 Transactions and journal entries 1) Purchased $328 of equipment on account. 2) Purchased $131 of investments (short-term/current) 3) Purchased $7,801 of inventories on account from vendors. 4) Collected $9,789 of financing receivables (current portion)