The analysis of the transactions that Company ABC engaged in during its first month of operations follows. The business buys electronic equipment that it rents out to earn rental revenue. The owner of the business, ABC, made only one investment to start the business and made no withdrawals from Company ABC

1.	Describe each transaction of Company ABC.
2.	If these transactions fully describe the operations of Company ABC during the month, what was the amount of net income or net loss?

Requirement 1. Select the appropriate description for each transaction. a. Investment by owner The analysis of the transactions that Company ABC engaged in during its first month of operations follows. The business buys electronic equipment that it rents out to earn rental revenue. The owner of the business, ABC made only one investment to start the business and made no withdrawals from Company ABC Rental (Click the icon to view the transactions.) Required 1. Describe each transaction of Company ABC 2. If these transactions fully describe the operations of Company ABC during the month, what was the amount of net income or net loss? Cash purchase of equipment Collection of account receivable Earned rental revenue and received cash Earned rental revenue on account Earned revenue on future rentals Investment by owner Owner withdrawal Payment of cash for expenses Payment of account payable Purchase of rental equipment on account More Info Accounts Accounts ABC's Rental Equipment Cash + Receivable + = Payable + Capital a. +56,000 +56,000 b. +2,400 + 2,400 c. + 98,000 + 98,000 d. + 2,600 +2,600 -8,000 e. - 8,000 f. + 5,700 +5,700 g. + 500 -500 h. -6,200 -6,200