The following transactions occurred during a recent year: a. Paid wages of $700 for the current period (example) b. Borrowed $3.500 cash from local bank using a short-term note. c. Purchased $1,400 of equipment on credit. d. Earned $280 of sales revenue; collected cash. e. Received $560 of utilities services, on credit. f Earned $1,200 of service revenue, on credit. 9 Paid \$210 cash on account to a supplier. h. incurred $50 of travel expenses, paid cash. 1. Earned $280 of service revenue; collected half in cash, with balance on credit. Collected $80 cash from customers on account. k. Incurred $220 of advertising costs. paid half in cash, with balance on credit. Required: 1. For each of the transactions, complete the following table, indicating the account, amount, and direction of the effect (* for increase and - for decrease) of each transaction under the accrual basis. Include revenues and expenses as subcategories of stockholders' equity, as shown for the first transaction, which is provided os an example. 2. Determine the company's preliminary net income. For each of the transactions, complete the following table, indicating the account, amount, and direction of the effect ( + for increase and - for decrease) of each transaction under the accrual basis. Include revenues and expenses as subcategories of stockholders' equity, as shown for the first transaction, which is provided as an example. (Enter any decreases to Assets, Liabilities, and Stockholder's Equity with a minus signi)