Recording Journal Entries and Determining Net Income Sysco, formed in 1969, is America's largest marketer and distributor of food service products, serving nearly 250,000 restaurants, hotels, schools, hospitals, and other institutions. The following transactions are typical of those that occurred in a recent year, but the amounts are simplified. a. Borrowed exist80,000 from a bank, signing a short-term note payable. b. Provided exist100,000 in service to customers, with exist95,000 on account and the rest received in cash. c. Purchased equipment for exist130,000 in cash. d. Paid employee wages of exist1,000. e. Received exist410 on account from a customer. f. Paid exist4,000 cash for travel costs during the year. g. Paid exist8, 200 cash on accounts payable. h. Incurred exist20,000 in utility expenses during the year, of which exist15,000 was paid in cash and the rest owed on account