The following transactions occurred in Larson Services inc during August 2011. Its first month of operations Aug 1 issued share capital for $3.000 cash 1 Borrowed $10,000 cash from the bank 1 Paid SR.000 cash for a used truck 4 Paid $600 for a one-year truck insurance policy effective Augusti recorded as prepaid expense since it will benefit more than one month 5 Collected $2,000 fees from a client for work to be performed at a later date 7 Billed $5,000 fees to clients for services performed to date 9 Paid S 250 for supplies used to date 12 Purchased $SOD supplies on credit record supplies as an asset) 15 Collected $1.000 of the amount billed August 7 16 Paid $200 for advertising in the News during the first two weeks of August 20 Paid half of the amount owing for the supplies purchased August 12 25 Paid the following expenses: rent for August, $350, salaries, $2,150, telephone, 550; truck operation, $250 28 Called clients for payment of the balances owing from August 7 29 Billed $6,000 fees to clients for services performed to date, including $1,500 related to cash received August 5 31 Transferred SSD of August's prepaid expenses to insurance expense 31 Counted $100 of supplies still on hand (recorded the amount used as an expense) Required: 1. Record the above transactions on a transactions worksheet and calculate the total of each column at the end of August. Use the following headings on your worksheet ASSETS Accounts Prepaid Unused + Receivable - Expenses + Supplies + LIABILITIES Bank Accounts Loan + Payable EQUITY Share Retained Capital + Earnings Truck + Cash 2. Prepare an interim income statement and statement of changes in equity for the month ended August 31, 2011, and an interim balance sheet at August 31, 2011 Identify the revenue earned as Fees. Record the expenses in alphabetical order