The items making up the balance sheet of Phillips Truck Rental at December 31 are listed below in tabular form. Assets Liabilities Owners Accounts Equipment Trucks Notes Payable Payable $18, 28e Accounts Office Cash Receivable $9,5e8 Capital Balances $13,9ee $3,8 568,608 $28,898 During a short period after December 31, Phillips Truck Rental had the following transactions. 1. Bought office equipment at a cost of $2.800. Paid cash. 2. Collected $5,600 of accounts receivable 3. Paid $3,400 of accounts payable 4. Borrowed $20,000 from a bank. Signed a note payable for that amount 5. Purchased two trucks for $30,000 Paid $15.000 cash and signed a note payable for the balance 6. Sold additional stock to investors for $91.000 Requirec b. Record the effects of each of the six transactions in the preceding tabular arrangement (Enter decreases to accounts as a negative.) Prey 1012 Next > Assets Liabilities Equity Capital OtficeTrucks -Notes CashAccounts .Accounts December 31 balances 9,500 13,900 68,000S 20,000 10,200 $ 65,000 Balances $ 9,500 13,900 3.800 68,000 20,000S 10.200 65.000 Balances 5 950013.900 0 68,000 20,000 10 200 65.000 Balances 9500 13.9003.800 68.00020.00010 200 65.000 10200 $ 65.000 s68ccol | S 20000 S 6800D 5 68 000 Balances S 9.500 5 13.900 5 3.800 Balances $ 9 500 5 13.900 $ 3 800 20000 S 10,200 S 65,000 Balances 5 9500 S13 900 5 3.800 s 20 000 $ 65,000 1 2 Next >