Problem 2-9A

-9A (LO3/4) otal cash following (g): $12,950 EFFECT OF TRANSACTIONS ON ACCOUNTING EQUATION Jay Pembroke started a business. During the first month (April 20-), the following transactions occurred. LGL (a) Invested cash in business, $18,000. (b) Bought office supplies for $4,600: $2,000 in cash and $2,600 on account. (c) Paid one-year insurance premium, $1,200 (d) Earned revenues totaling $3,300: $1,300 in cash am' $2,000 on acccus (e) Paid cash on account to the company that suoplier ee xpplies in transaction (b), $2,300. (f) Paid office rent for the month, $7s0 (g) Withdrew cash for personal usc, $100 REQUIRED Show the effect of each transaction on the individual accounts of the expanded account- ing equation: Assets- Liabilities+Owner's Equity (Capital - Drawing Revenues Expenses). After transaction (g), report the totals for each element. Demonstrate that the accounting equation has remained in balance. INCOME STATEMENT Based on Problem 2-9A, prepare an income statement for Jay Pembroke for the month of April 20- t income: $2,550 LGL SHOW ME HOW