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Transaction Analysis and Adjustments For each of the following unrelated situations, determine the financial statement effect using the Transaction Analysis Template: a. The Inventory account had a beginning balance of $8,000. Purchases of inventory during the month were $6,000. Inventory on hand at the end of the period totaled $5,000, b. Siewald Tutorials provides group SAT tutoring sessions of six months. Fees collected in advance totaled $6,000. At the end of the current period, one month of instruction has been given. c. At the end of the accounting period, employee wages of $2,400 have been incurred but not paid. d. At the end of the accounting period, $350 of interest has been earned but not yet received on notes receivable. Note: Use negative signs with answers, when appropriate Balance Sheet Income Statement Stockholders Equity Assets Liabilities - - Net Income Revenues Expenses Transaction a. To record use of inventory b. To record tutoring fees. To record incurred wages d. To record interest earned 0 6000 0 6,000 0 6000 0 6000 2,400 12,400) 0 (2,400)