The transactions relating to the formation of Blue Co. Stores, Inc., and its first month of operations follow a. The firm was organized and the stockholders invested cash of $7,900 b. The firm borrowed $5,900 from the bank; a short-term note was signed c. Display cases and other store equipment costing $1,700 were purchased for cash. The original list price of the equipment was $1,980, but a discount was received because the seller was having a sale d. A store location was rented, and $1,200 was paid for the first month's rent. e. Inventory of $15,900 was purchased; $9,600 cash was paid to the suppliers, and the balance will be paid within 60 days. f. During the first week of operations, merchandise that had cost $4,400 was sold for $5,800 cash. g. A newspaper ad costing $120 was arranged for, it ran during the second week of the store's operations. The ad wll be paid for in the next month. h. Additional inventory costing $4,150 was purchased; cash of $1,200 was paid, and the balance is due in 30 days. i. In the last three weeks of the first month, sales totaled $14,750, of which $9,900 was sold on account. The cost of the goods sold totaled $8,900 j. Employee wages for the month totaled $2,000; these will be paid during the first week of the next month. k. The firm collected a total of $3,850 from the sales on account recorded in transaction i. I. The firm paid a total of $4,300 of the amount owed to suppliers from transaction e. Required a. Record each transaction in the appropriate columns. (If an transaction/Adjustment are not affecting the balance sheet category or income statement, leave the cells blank Enter decreases to account balances as a negative.)