Owners Equity The items making up the balance sheet of Phillips Truck Rental at December 31 are listed below in tabular form Assets ties Accounts office Accounts Cash Receivable Equipment Trucks Notes Payable Payable Balances $9,500 $13,900 $3,800 568,000 $20,000 $19,200 Capital Stock $65.000 During a short period after December 31, Phillips Truck Rental had the following transactions 1. Bought office equipment at a cost of $3,000. Pald cash 2. Collected $5.700 of accounts receivable 3. Paid $2,700 of accounts payable 4. Borrowed $20,000 from a bank Signed a note payable for that amount 5. Purchased two trucks for $30,000 Paid $15.000 cash and signed a note payable for the balance 6. Sold additional stock to investors for $78,000 Required: b. Record the effects of each of the six transactions in the preceding tabular arrangement (Enter decreases to accounts as a negative.) Assets Owners Equity Capital Qash Trucks Accounts Receivable S 13.900 Liabilities Notes Accounts Payable Payable 5 20.000 S 10,200 Stock Office Equipment S 3,800 $ 9,500 $ S 65.000 68,000 $ $ 13.900 $ December 31 balances M Balances 2 Balances $ $ 9,500 5 3.800 68,000 $ 20.000 65 000 10,200 S $ 9.500 $ 3,800 8,200 v $ 68,000 $ 20,000 65.000 10.200 S 3 $ $ 9,500 s s $ 8.200 $ 3,800 68,000 20,000 65.000 10,200 Balances 4. Balances 5 9.500 $ 8 200 $ 3 800 $ $ 68,000 $ $ 20.000 on 10,200 65,000 S $ 9.500 8.200 s 3.800 S 68,000 $ SI 20,000 10.200 $ 65,000 Balances 8 $ 9,500 s $ 8.200 Balances 3,800 68.000 S $ 20,000 $ 10.200 $ 65,000