T-Accounts and Income Statement (9.5 marks) 1. Prepare T-accounts based on the following information. Don't forget to calculate and circle the balances in each account. (5 marks) a. Fred Marsh began Flawless Janitorial service by depositing $10,000 in a bank account opened in the name of the business. b. From the investment, he made a $500 down payment on a secondhand truck priced at $12,000 and agreed to pay the balance later. c. He paid $75 for newspaper advertising through which he gained a number of customers for his services. d. On December 31, 20--, after six months in business, his records showed he had collected $5,150 in cash for services provided and that customers owed him a additional $200 for services. e. He had paid $150 in cash for gas and oil used in the truck, and copies of cred card receipts showed he owed an additional $25 for gas and oil used during the six months. f. Through cash payments he had reduced the balance owed on the truck to $5000. g. Under the assumption the business had a total of $6475 cash at the end of the period, in other words the bank balance after the withdrawal