Question 1 (32 points) For the following series of business activities of ABC Corporation, show an equal entry in two separate accounts, i.e., changes to two accounts that balance. In each entry, you should identify: - What the account item is. - Whether the account goes up or goes down. - How much the account goes up or goes down. - Whether it is a debit or credit. An example of an entrv is shown below: Assume that the terms ABC Corporation buy materials and sell products are standard commercial terms, i.e., it issues or receives a purchase order, which triggers an invoice that is paid 30 days later. The series of business activities are listed as below: (1) ABC Corporation orders and receives $2000 of raw material from a supplier. (2) ABC Corporation pays the supplier 30 days later. (3) ABC Corporation moves the raw material to factory and start manufacturing. (4) ABC Corporation incurs $2000 of labor costs in manufacturing. (5) ABC Corporation finishes manufacturing of a product with a cost of $4000, of which raw material cost is $2000 and labor cost is $2000, and moves it to finished product inventory. (6) ABC Corporation sells the product to a customer at a price of $5500. (7) The customer pays ABC Corporation 30 days later