Peachtree Company uses the perpetual inventory system, and it engaged in the following 6 transactions during the accounting period: Started the business by issuing common stock for $100,000 cash Purchased $60,000 of inventory on account (credit). Sold Inventory that cost $40,000 for $72, 500 cash sales revenue Paid $60,000 to supplier for inventory purchased on credit in transaction #2. Incurred and paid cash for operating expenses of $20,000 Paid $12,000 in cash for one year's rent in advance. Record the 6 transactions on the horizontal financial statement below. Be sure to include a total for each column when you have finished. Transaction #2 above represents an: (circle one) Asset Source Asset Use Asset Exchange Transaction #5 above represents an: (circle one) Asset Source Asset Use Asset Exchange Transaction #6 above represents an: (circle one) Asset Source Asset Use Asset Exchange