ttempt took less than 1 minute. Question 1 Which of the following is the correct accounting equation? O Assets + Liabilities - Equity Assets = Liabilities + Equity O Assets + Revenues = Equity Assets + Revenues = Liabilities + Expenses Manor College Microsoft Office Hom Once you have completed posting all the transaction to the T-Accounts, What are the balances in each account? Match the Account with the correct balance Cash [Choose] Equipment [Choose) Accounts Receivable [Choose] Office Supplies [Choose] Prepaid Rent [Choose] Notes Payable [Choose] Common Stock [Choose Dividends [Choose] Service Revenue [Choose] Utilities Expense [Choose] Credit Debit $ 35,000.00 1 Date Journal Entry 7/1/2018 Cash Common Stock Sold common stock $ 35,000.00 $ 1,500.00 7/1/2018 Prepaid Rent Cash Prepaid 3 months rent $ 1,500.00 $ 1,000.00 7/5/2018 Equipment Accounts Payable Purchased equipment on account $ 1,000.00 $ 3,000.00 7/8/2018 Cash Service Revenue Service to Drexel Company $ 3,000.00 $ 500.00 7/12/2018 Office Supplies Cash Purchased Office Supplies $ 500.00 $ 8,500.00 7/18/2018 Accounts Receivable Service Revenue Service toArcadia Brothers $ 8,500.00 $ 10,000.00 7/24/2018 Cash Notes Payable Borrowed Money from XYZ Company $ 10,000.00 $ 400.00 7/25/2018 Utlities Expense Cash Paid monthly utlities $ 400.00 7/25/2018 Accounts Payable Cash $ 1,000.00 $ 1,000.00 Transactions T-Accounts Sheet3 $ 3,000.00 $ 3,000.00 7/8/2018 Cash Service Revenue Service to Drexel Company $ 500.00 7/12/2018 Office Supplies Cash Purchased Office Supplies $ 500.00 $ 8,500.00 7/18/2018 Accounts Receivable Service Revenue Service toArcadia Brothers $ 8,500.00 $ 10,000.00 7/24/2018 Cash Notes Payable Borrowed Money from XYZ Company $ 10,000.00 $ 400.00 7/25/2018 Utlities Expesnse Cash Paid monthly utlities $ 400.00 $ 1,000.00 7/25/2018 Accounts Payable Cash Paid account for Equipment $ 1,000.00 7/31/2018 Dividends Cash $ 500.00 500