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The following transactions are July activities of Bennett's Bowling. Incorporated, which operates several bowling centers; offering customers lanes for games, snack bar service, and merchandise

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The following transactions are July activities of Bennett's Bowling. Incorporated, which operates several bowling centers; offering customers lanes for games, snack bar service, and merchandise for sale from the pro shop. e. Bennett's purchased $580 in food supplies for the snack bar. paid $480 in cash and owed the rest on account with the suppliek. f. Bennett's pald $2,500 on the electricity bill for June (recorded as an expense in June). 9. Bennett's paid $4,600 to employees for work in July. h. Bennett's purchased $3,000 in insurance for coverage from August 1 to November 1 . 1. Bennett's paid $2.000 to plumbers for repairing a broken pipe in the restrooms. 1. Bennett's recelved the July electricity bill for $2.700 to be paid in August. For each of the above transactions, complete the tabulation, indicating the amount and effect of each transaction. (Remember that Assets = Liabilites + Stockholders' Equity. Revenues - Expenses = Net income; and Net income affects Stockholders' Equity through Retained Earnings.) The first transaction is provided as an example. Note: Reductions in occount balances and loss amounts should be indicated with a minus sign

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