The following transactions occurred during a recent year: 3. Paid wages of $900 for the current period (example). . Borrowed $4,500 cash from local bank using a short-term note. - Purchased $1,800 of equipment on credit. . Earned $360 of sales revenue; collected cash. 2. Received $720 of utilities services, on credit. f. Earned $1,530 of service revenue, on credit. g. Paid $270 cash on account to a supplier. h. Incurred $65 of travel expenses; paid cash. i. Earned $360 of service revenue; collected half in cash, with balance on j. Collected $95 cash from customers on account. k. Incurred $280 of advertising costs; paid half in cash, with balance on cre Required: 1. For each of the transactions, complete the following table, indicating the a and - for decrease) of each transaction under the accrual basis. Include re equity, as shown for the first transaction, which is provided as an example. 2. Determine the company's preliminary net income. Answer is compl. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Check my Return Required 1 Required 2 For each of the transactions, complete the following table, indicating the account, amount, and direction of the effect (+ for increase and for decrease) transaction under the accrual basis. Include revenues and expenses as subcategories of stockholders' equity, as shown for the first transaction, which is pr example. (Enter any decreases to Assets, Liabilities, and Stockholder's Equity with a minus sign.) Llabilities Transaction Assets Stockholders' Equity Salaries and Wages Expense (900) a. b Cash Cash Equipment Cash (900) 4,500 1,800 360- Notes Payable (short-term) Accounts Payable >> 4,500+ 1.800 C . d. Accounts Payable > 720 360 (720) 1.530 Sales Revenue Utilities Expense Service Revenue + Accounts Payable (270) . h OOO Travel Expense Service Revenue (65) (360) Accounts Receivable Cash Cash Cash Accounts Receivable Cash Accounts Receivable Cash 1.530 (270) - (65) - 180 180 95 - (95) (140) = 190 X 3 Retained Earnings + > k Accounts Payable 1401 Advertising Expense (280) Required 2 >