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Transactions that affect net income do not necessarily affect cash. Identify the effect, if any, that each of the following transactions would have upon cash and net income. The first transaction has been completed as an example. (If an amount reduces the account balance then enter with negative sign preceding the number e.g. -15,000 or parentheses e.g. (15,000).) Cash Net Income -$94 $0 a. Purchased $94 of supplies for cash. b. Recorded an adjusting entry to record use of $23 of the above supplies. c. Made sales of $1,222, all on account. d. Received $752 from customers in payment of their accounts. e. Purchased equipment for cash, $2,350. f. Recorded depreciation of building for period used, $564. Prior to adjustments, Oriole Company has the following balances in selected accounts on December 31, 2022. Service Revenue Insurance Expense Supplies Expense $46,400 3,240 2,842 All the accounts have normal balances. Oriole Company debits prepayments to expense accounts when paid, and credits unearned revenues to revenue accounts when received. The following information below has been gathered at December 31, 2022. 1. 2. Oriole Company paid $3,240 for 12 months of insurance coverage on June 1, 2022. On December 1, 2022, Oriole Company collected $46,400 for consulting services to be performed from December 1, 2022, through March 31, 2023. A count of supplies on December 31, 2022, indicates that supplies of $1,044 are on hand. 3. Prepare the adjusting entries needed at December 31, 2022. Adjustments are prepared annually. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Prepare the adjusting entries needed at December 31, 2022. Adjustments are prepared annually. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Date Account Titles and Explanation Debit Credi 1. 2. 3