The following accounting events apply to Mary's Designs for Year 1 Asset Source Transectlons 1. Began operations by acquining $20,000 of cash from the issue of common stock 2 Performed services and collected cash of $750 3. Collected $4,700 of cash in advance for services to be provided over the next 12 months 4. Provided $10.600 of semices on account 3. Purchased supplies of $440 on account. Asset Exchange Transactions 6. Purchased $4,800 of land for cash 7. Collected $7,000 of cash from accounts recewable. 6. Purchased $460 of supplies with cash . Paid $3,400 for one year's rent in advance Astet Use Transactions 10. Paid $3,300 cash for salanes of employees. 11. Poid a cash dividend of $1,500 to the stockholders 12. Paid off $440 of the accounts payable with cash. Clalms Exchange Transactions 13. Placed an advertisement in the local newspaper for $160 on account. 14 . Incurted utility expense of 595 on account Adlusting Entries 13. Recognized $3,525 of revenue for performing services. The collecton of cash for these services occurred in a prior transaction. (See Event 3) 10. Recorded $1,100 of accrued salary expense at the end of Year 1. 17. Recorded supplies expense Had $125 of supplies on hand at the end of the accounting period. 18. Recognized three months of expense for prepaid rent that had been used up during the accounting penod Required a. Record each of the preceding events in T-accounts b. Prepare a before-closing trial balance. c. Use a horizontal statements model to show how each event affects the balance sheet, income statement, and statement of cash flows. The first event is recorded as an example (Use + to indicate increose, - for decrease, or %-for increase and decrease. In the Statement of Cosh Flows column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). Not oll cells require input)