QS 2-8 (Algo) Analyzing transactions and preparing journal entries LO A1 For each transaction, (1) analyze the transaction using the accounting equation, (2) record the transaction in journal entry form, and (3) post the entry using T-accounts to represent ledger accounts. Use the following partial chart of accounts-account numbers in parentheses: Cash (101); Accounts Receivable (106); Office Supplies (124); Trucks (153); Equipment (167); Accounts Payable (201); Unearned Landscaping Revenue (236); Common Stock (307); Dividends (319); Landscaping Revenue (403); Wages Expense (601); and Landscaping Expense (696). a. On May 15, DeShawn Tyler opens a landscaping company called Elegant Lawns by investing $88,000 in cash along with equipment having a $48,000 value in exchange for common stock. b. On May 21, Elegant Lawns purchases office supplies on credit for $640. c. On May 25, Elegant Lawns receives $9,600 cash for performing landscaping services. d. On May 30, Elegant Lawns receives $2,800 cash in advance of providing landscaping services to a customer. Analyze General Journal T accounts Post the entry using T-accounts to represent ledger accounts. (TIP: For right side T-account entries you must use a right side date selection. For left side T- account entries you must use a left side date selection.) Cash 101 Date Amount Date Amount Date Office Supplies 124 Amount Date Amount May 15 85,000 9,300 2,500 Ending balance 96800 Ending balance Equipment 167 Accounts Payable 201 Date Amount Date Amount Date Amount Date Amount Ending balaate Date Unearned Landscaping Revenue 236 Amount Date: Ending balance Landscaping Revenue 4031 Date Amount Date Ending balance Common Stock 307 Amount Date Amount Date Amount Amount Ending balance