The Crockett Corporation had the following tabular analysis, using the same abbreviations as those used in class:

Required:

Record each of the following transactions$/$events in the tabular analysis above including the date of each transaction as well as descriptions of amounts in the Cash and R$/$E columns.

$4/1$ Borrowed $$2500$ from a bank.

$4/1$ Purchased a six month insurance policy for $$1,980.$

$4/1$ Purchased equipment for $$3,600$ on account; management expects it will be useful for five years at which time it should be worth $$1,200.$

$4/3$ Performed $$3,400$ of consulting services for customers on account.

$\frac{4}{6}$ Services previously sold in advance for $$800$ were preformed.

$4/9$ Paid advertising of $$350.$

$\frac{4}{15}$ Purchased supplies of $$190.$

$4/20$ Performed $$900$ of services for customers.

$4/25$ Received a utility bill for $$275$; will be paid next month.

$\frac{4}{28}$ Received $$600$ from customers on account.

$4/29$ Made payment on bank loan of $$700.$

$\frac{4}{30}$ Paid $$550$ in dividends to owners.

$\frac{4}{30}$ Paid employee payroll of $$3,500.$

$\frac{4}{30}$ Supplies on hand reported at $$230.$

Use the resulting tabular analysis to prepare an income statement, statement of retained earnings, balance sheet and statement of cash flows for the month.

If the equipment were sold for $$3,400$ on May $1$ st record the necessary transaction.