PART II: PROBLEM (25 POINTS): Page 2 Colson Computer Company had the following business transactions during October 20xx, the first month of business activity. Colson earns revenue by providing services to computer users. All transactions relate to the affairs of the business: a) On October 1st, Charles Colson deposits $18,000 in a bank account in the name of Colson Computer Company b) On October 3, Colson buys equipment on account for $4,250.00 c) On October 10", Colson pays $80.00 for supplies. d) On October 15, Colson determines that total revenue earned for the first two weeks of the month $6,293.00. Of this amount, the amount realized in cash is $5,375.00 and the amount of accounts receivable is $918.00 e) On October 17, Colson pays the following expenses of the business: Utilities: $95.00, Telephone: $250.00, Rent: $1,200.00, and Advertising: $175.00. 1) On October 23, Colson received $400.00 in cash from clients to whom he provided services on act (see transaction "d"). B) On October 26", Colson pays $240 to an assistant for salaries expense. h) On October 30, Colson determines that total revenue for the last two weeks of the month was $3,070.00, of this amount, the amount realized in cash is $2,200.00, and the amount of account receivable is $870.00 On October 31", Colson pays $1,500.00 towards to $4,250.00 owed in transaction "B". PART II: PROBLEM 25 POINTS): Page 2 Colson Computer Company had the following business transactions during October 20xx, the first month of business activity. Colson earns revenue by providing services to computer users. All transactions relate to the affairs of the business