Please help by completed the work for ANALYZING TRANSACTIONS USING THE FINANCIAL STATEMENT EFFECTS TEMPLATE (M2-31), JOURNALIZING BUSINESS TRANSACTIONS (M2-32) AND POSTING TO T-ACCOUNTS (M2-33). I have included the sample format as well - thanks.

Income Statement cast a t dice suppies Analyzing Transactions Using the Financial Statement Fffects Template Report the efocts for each of te following independent transactioas using the financial effects templane. If no ory stould be me, ansver"No entry dettvered nest 01.23,4 Income Statement Net Earned tes CapiaCital ftevonues - expenses = ncome Cash Noneash Liabi Contrib , purchonad wwith esch b. Sell haf ef irventory in ( for $7.500 on credi. c. Pace order for $5,000 of next month d. Pay empoyeo $4,000 for compensetion earmed during themonth a Pay $7,000 end for use of praminos d.ring tha f. Receive full peymert from ausiomar in part b L06 (M2.32.) Jouraalizing Busines Transactions Reer to thetactions in M2-31. Prepare jourmal entries for each of the transactions (o) throughf 06 (M2-33) Posting to T-Accounts Refer to the tratsactions ix. M2-31. Se up T-accouats for each of the accounts referenced by the transations and pos the amounts for each transactioa tothier,accounts. consnued from prewExample of format for M2-32 and M2-33 Answers Balance Sheet Ned Cash Noncash Liabl Contrib. Eamed ities Revenues -Expenses Capital Capital +670 870 5) Pay $670 cash for Novembor advarbsing Advertising oocponso (-E,-se Cash (- Gash (A) 1070 For entries involving income statement sccounts, only the transaction itself (blue type in the FSET) is recorded in the journal entry and T-accoant posting. The resulting effects on incone and retained earnings occur (hlack type in the FSET) during the reporting process (C) Pay 51 3.300 cash in par- 13300 tel peyment to suppiers C 13,300 ) --Accounts payable (-L) Cash [ A) Pay cash to suppvers in partal peyment for prowous 13,300 13.300 Ta) Sal $7,000 of producs 7000 +7,000 +7,000 7,000 for cash 7,000 Sales revenue (+ R, + SE) Sa produets for cash 7,000 Cash Salea Revenue 7a) 7,000 7,000 (a Record $4,000 for he cost of merchandse sold in transaction 7a -4000 4,000 4,000 hCost of goods sold(+E, -SE) Inventory -A Record cost of marchandlse sold as experoe Cost of Goods Scld 7b 4000 4,000 (7b)