Nile University NU Example Entering transactions in T accounts. Set up six accounts in "T" form for each of the following: Cash; Gardening supplies; Trucks; Accounts payable; Notes payable; G. Sheldon Capital a) Enter the following transactions for the first month of operations for Sheldon Gardening Services company. b) After all the transactions above are recorded, compute the balance of each account and indicate whether the account has a debit balance or a credit balance. Then determine if the total of all accounts with debit balances is the same as the total of all accounts with credit balances. CIEM 333 De Emad Bakhoum (Lecture 11 CEE) 15 Nile University NU 1. The owner, G. Sheldon invests $4,000 cash in the company 2. The firm purchases gardening supplies from a supplier for 1,000 paying $200 cash and promising to pay the balance in 30 days 3. Performed services for customers, collecting $2,000 in cash 4. Paid the salary of an employee, amounting to $300 5. Borrowed $3,000 from bank, singing a note 6. Paid miscellaneous expenses in cash, $134 7. Performed services for customers, collecting $340 in cash 8. Paid $18 to bank for interest on the loan 9. Mr. Sheldon withdrew $400 cash for personal use 10. Used $700 of gardening supplies 11. Purchased a truck $5,000, paying $1,000 cash and singing a note payable for the balance