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nowo Required information (The Rodowing information applies to the questions payed below Kaylee James, a connoisseur offre chocolate, opened Kaylee's Sweets in Collegetown on February

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nowo Required information (The Rodowing information applies to the questions payed below Kaylee James, a connoisseur offre chocolate, opened Kaylee's Sweets in Collegetown on February The shop specializes in a selection of gourmet chocolate candies and a line of gourmet ice cream. You have been hired as manager Your duties include maintaining the store's financial records. The following transactions occurred in February, the first month of operations Received four shareholdere contributions totaling $29.900 cash to form the corporation, issued 400 shares of so Paid three months' rent for the store at $1,750 per month recorded as prepaid expenses) c. Purchased and received candy for $6,200 on account, due in 60 days d. Purchased supplies for $1,430 cash e. Negotiated and signed a two-year $14.000 loan at the bank, receiving cash at the time Used the money from fel to purchase a computer for $2,600 for recordkeeping and Inventory tracking used the balance for furniture and fixtures for the store, Placed a grand opening advertisement in the local paper for $460 cash; the ad ran in the current month h. Made sales on Valentine's Day totaling $3.500; $2,705 was in cash and the rest on accounts receivable. The cost of the candy sold was $1700 L Made a $620 payment on accounts payable Jincurred and paid employee wages of $1.400. k Collected accounts receivable of $170 from customers. L. Made a repair to one of the display cases for $140 cash. m. Mede cash sales of $3,100 during the rest of the month. The cost of the candy sold was $1910. Required: 1&2 Record in the T-accounts the effects of each transaction for Kaylee's Sweets in February, referencing each transaction in the accounts with the transaction letter Cash Account Rece beg tal Behal End. Endha Inventary Bopple begal Bey w rework Bas End, hal Beg bal Estat End, bal Prepaid Bega Beghal Endbal End to Furniture and Flores heart Bega tega End, bal Endbal tee Payable Comment Bestal Betw End Sales Hovene Adal Paid in Capital teg tal Beg be Net (Prey 9 10 11 Rendredioatien Beg bel Begal End bal Endbal Beg ba End, bal End .. R Beg. Biega End, bal Endbal Cofnodi Dole Repair Expense Begal Beg bal End, hal End. 0 Advertising Epense Wape Expene Beg Beg to Enda End bal C Prev 9 10 Nox

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