Show the effect, if any, of the transaction entry or adjusting entry on the appropriate balance sheet category or on the income statement by selecting the amount and indicating whether it is an addition (+) or a subtraction (-). Column headings reflect the expanded balance sheet equation; items that affect net income should not be shown as affecting stockholders' equity. In some case only one column may be affected because all of the specific accounts affected by the transaction are included in that category. Transaction a has been completed as an illustration. a. Provided services to a client on account; revenues totaled $510. b. Paid an insurance premium of $360 for the coming year. An asset, Prepaid Insurance, was debited. c. Recognized insurance expense for one month from the premium transaction in b via a reclassification adjusting entry. d. Paid $825 of wages accrued at the end of the prior month. e. Paid $2,500 of wages for the current month. f. Accrued $675 of wages at the end of the current month. g. Received cash of $1,575 on accounts receivable accrued at the end of the prior month. Required: a. Indicate the financial statement effect. b. Prepare the journal entry for the above transactions. Answer is not complete. Required A Required B Indicate the financial statement effect. Balance Sheet Category Transaction! Adjustment Assets Liabilities + Stockholders' Equity +510 +360 and -360 -30 -825 -2,500 -675 +1,575 and -1,575 360X -30 -825 -2,500 +675 +1,575 and -1,575 X 360 -30 825 % -2,500 -675 and +675 % +1,575 and -1,575 Income Statement Net Income Effect +510 (360) -30 -825 x -2,500 -675 -1,575 % 5. Required A Required B > Journal entry worksheet