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. g. 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. J. Collected $80 cash from customers on account. k. Incurred $220 of advertising costs: paid half in cash, with balance on credit. Complete this question by entering your answers in the tabs below. 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 de each transaction under the accrual basis. Include revenues and expenses as subcategories of stockholders' equity, as shown for the first transacti provided as an example. (Enter any decreases to account balances with a minus sign.) Assets Liabilities Stockholders' Equity Salaries and Wages Expense (700) a Cash b Cash Ecument d cash (700) 3,500 1.400 200 Notes Payable (short-term) Accounts Payable 3.500 14001 Sales Revenue 280 Accounts Payable 560 1 Service Revenue 1.200 Accounts Payable (210) Accounts Receivable Cash Cash Cash TAccounts Receivable Cash 1.200 210) (50) 140 140 20 Service Revenue 2801 Cash (110) Accounts Payable 110 Required 2 > Complete this question by entering your answers in the tabs below. Required Required 2 Determine the company's preliminary net income. Preliminary Not Income $ 1060