This case is a continuation of the Goodbye Grass Corporation case introduced in Chapter 2. The company was established and property and equipment were purchased. The balance sheet at April 30, 2018, based on only the investing and financing activities (from Chapter 2) is as follows: GOODBYE GRASS CORPORATION Balance Sheet At April 30, 2018 Assets Current Assets Liabilities Current Liabilities Cash $ 3,800 Accounts Payable Note Receivable 1,250 Note Payable Total Current Assets 5,050 Total Current Liabilities $ 400 4,000 4,400 Equipment 4,600 Stockholders' Equity Land 3,750 Common Stock 9,000 Retained Earnings 0 Total Stockholders' Equity 9,000 Total Assets $13,400 Total Liabilities and Stockholders' Equity $13,400 The following activities also occurred during April: a b. Purchased and used gasoline for mowers and edgers, paying $90 in cash at a local gas station. In early April, received $1,600 cash from the city in advance for lawn maintenance service for April through July ($400 each month). The entire amount is to be recorded as Deferred Revenue. c. In early April, purchased $300 of insurance covering six months, April through September. The entire payment is to be recorded as Prepaid Insurance. d. Mowed lawns for residential customers who are billed every two weeks. A total of $5,200 of service was billed and is to be recorded in April. V. Residential customers paid $3,500 on their accounts. f. Paid wages every two weeks. Total cash paid in April was $3,900. & Received a bill for $320 from the local gas station for additional gasoline purchased on account and used in April. - h. Paid $100 on accounts payable. Required: 1. Analyze activities (a)-(h) with the goal of indicating their effects on the basic accounting equation (Assets Liabilities + Stockholders' Equity), using the format shown in the chapter. 2. Prepare journal entries to record the transactions identified among activities (a)-(h). TIP: Treat insurance (in c) in the same manner as Noodlecake's rent in transaction () 3. Summarize the effects of each transaction in the appropriate T-accounts. Before entering these effects, set up T-accounts for Cash, Accounts Receivable, Note Receivable, Prepaid Insurance, Equipment, Land, Accounts Payable, Deferred Revenue, Note Payable, Common Stock, Retained Earnings, Service Revenue, Salaries and Wages Expense, and Fuel Expense. The beginning balance in each T-account should be the amount shown on the balance sheet above or $0 if the account does not appear on the above balance sheet. After posting the journal entries to the T-accounts, compute ending balances for each of the T-accounts