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?

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 Requirement 1. Select the appropriate description for each transaction. 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 a. Investment by owner Rental. i (Click the icon to view the transactions.) Cash purchase of equipment Required Collection of account receivable 1. Describe each transaction of Company ABC Earned rental revenue and received cash Earned rental revenue on account 2. If these transactions fully describe the operations of Company ABC during the month, what was the amount of net income or net loss? Earned revenue on future rentals Investment by owner Owner withdrawal i More Info Payment of cash for expenses Payment of account payable Purchase of rental equipment on account Accounts Rental Accounts ABC's Cash + Receivable + Equipment = Payable + Capital a. + 56,000 + 56,000 b. +2,400 + 2,400 C. + 98,000 + 98,000 d. + 2,600 +2,600 e. - 8,000 -8,000 f. + 5,700 +5,700 g. + 500 -500 h. - 6,200 -6,200