Transcribed image text : Chapter 2 Exercise: Instructions: Record the impact of the following transactions on the Basic Accounting Equation and Cash Flows for a company that began operations on 1/1/2018 1) Provided services and received cash $3,000. 2) Paid $450 in advance to rent a storage space for 6 months. 3) Performed $2.500 of services on account. 4) Accrued $800 of wages to be paid later. 5) Received $1.200 in advance for a 1 year service revenue contract. 6) Used cash to purchase Equipment - Cost: $2,000, Salvage Value: $200: Useful Life: 6 years. 7) Adjust the records to record the expiration of 4 months of rent on the storage space (Step #2). 8) Earned 2 nths of the service contract (Step #5). Record the adjusting entry. 9) Adjust the records to record 4 months of depreciation on the Equipment. 10) Collected $1,700 from customers on account *****See table on next page ***** Mae Whe At Lates Arc ARE Cache Flow FA Deol Nene Acced Und Ware Paris 27450) 1450 30 57 7 9 10 TOT