T Accounts and Trial Ealance Wilhelm Xohl started a business in May 20 - called Kohl's Home Repair. Kohl hired a part-time college student as an assistant. Kohl has decided to use the following accounts for recording transactions: The following transactions occurred during May: (a) Invested cash in the business, 525,000 . (b) Purchased a used van for cash, $6,000. (c) Purchased equipment on account, $4,000. (d) Recelved cash for services rendered, $7,500. (e) Paid cash on account owed from transaction (c), $2,300. (f) Paid rent for the month, $850. (g) Paid phone bill, $230. Accounts Receivable Office Supplies (i) v Prepaid Insurance (k) (f) Paid rent for the month, $850. (9) Paid phone bill, $230, (h) Earned revenue on account, $4,500 : (i) Purchased office supplies for cash, $160. (j) Paid wages to an assistant, $800. (k) Purchased a one-year insurance policy, $1,100. (1) Received cash from services performed in transaction (h), $3,400. (m) Paid cash for gas and oll expense on the van, $155. (n) Purchased addisional equipment for $4,200, paying $1,500 cash and spreading the remaining payments over the next 10 months: (o) Earned service fees for the remainder of the month of $3,500:$1,900 in cash and $1,600 on account. (p) Withdrew cash at the end of the month, $2,900. Required: 1 and 2. Enter the transactions in T accounts, identifying each transaction with its corresponding letter. Foot and balance the accounts where necessary. Entor the transactions in the given order. and 2. Enter the transactions in Taccounts, Identifying each transaction with its corresponding letter, Foot and balance the accoursts where necessary. Enter the ransactions in the given order: Prepaid Insurance (k) Equipment Van (b)