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The following transactions are July activities of Craig's Bowling, Inc., which operates several bowling centers (for games and equipment sales). e. Craig's provided to customers

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The following transactions are July activities of Craig's Bowling, Inc., which operates several bowling centers (for games and equipment sales). e. Craig's provided to customers bowling merchandise inventory costing Craig's $6,800. [Do not consider sales revenue for this question.] f. Craig's paid $800 on the electricity bill for June (recorded as an expense in June) g. Craig's paid $3,500 to employees for work in July h. Craig's purchased $1,500 in insurance for coverage from July 1 to October 1. (Part is an expense for July and part is a prepaid expense to be used in future months.) i. Craig's paid $700 to plumbers for repairing a broken pipe in the restrooms j. Craig's received the July electricity bill for $900 to be paid in August. For each of the above transactions, complete the tabulation, indicating the amount and net effect +for increase and-for decrease) of each transaction. (Remember that A = L + SE, R-E = NI, and NI affects SE through Retained Earnings.) The first transaction is provided as an example Balance Sheet Income Statement StockholdR Assets Liabilities + evenues Expenses Net Income ul -6,800 -6,800 6,800 -6,800

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