On May 1, B. Kelso opened Self-Wash Laundry. His accountant listed the following chart of accounts: Cash B. Kelso, Drawing Laundry Revenue Supplies Wages Expense Prepaid Insurance Equipment Furniture and Fixtures Rent Expense Utilities Expense Miscellaneous Expense Accounts Payable B. Kelso, Capital w The following transactions were completed during May: a. Kelso deposited $36,000 in a bank account in the name of the business. b. Bought chairs and tables (Furniture and Fixtures), paying cash, $1,910, Ck. No. 1000. C. Bought supplies on account from Barnes Supply Company, $475. d. Paid the rent for the current month, $875, Ck. No. 1001. e. Bought washing machines and dryers (Equipment) from Lara Equipment Company, $15,500, paying $6,850 in cash and placing the balance o account, Ck. No. 1002. f. Sold services for cash for the first half of the month, $2,715. g. Bought insurance for one year, $1,695, Ck. No. 1003. (Assume that cheque was issued on 1st of May.) h. Paid on account to Lara Equipment Company, $1,945, Ck. No. 1004. i. Received and paid electric bill, $255, Ck. No. 1005. j. Sold services for cash for the second half of the month, $2,025. k. Paid wages to an employee, $950, Ck. No. 1006. I. Kelso withdrew cash for his personal use, $1,070, Ck. No. 1007. m. Paid on account to Barnes Supply Company, $475, Ck. No. 1008. n. Received and paid bill from the county for sidewalk repair assessment, $315, Ck. No. 1009 (Miscellaneous Expense). Required: 1. Correctly place the plus and minus signs for each T account and label the debit and credit sides of the accounts. 2. Record the transactions in the T accounts. Record the amounts in the order given (letters 'a' through 'n'). 3. Foot the T accounts and show the balances. Cash + Debit Credit Accounts Payable Debit Credit Bal. Bal. Supplies B. Kelso, Capital The Debit Credit Debit Credit Bal. Bal. Prepaid Insurance B. Kelso, Drawing Debit Credit Debit Credit Bal. Bal. Laundry Revenue Equipment Debit Credit Debit Credit Bal. Bal. Furniture and Fixtures Wages Expense Debit Credit Debit Credit Bal. Bal. Furniture and Fixtures Wages Expense Debit Credit Debit Credit Bal. Bal. Rent Expense Debit Credit Bal. Utilities Expense Debit Credit Bal. Miscellaneous Expense Debit Credit Bal