Tying It All Together Case F:2-1 Before you begin this assignment, review the Tying It All Together feature in the chapter. Part of the Fry's Electronics, Inc.'s experience involves providing technical support to its customers. This includes in-home installations of electronics and also computer support at their retail store locations. Requirements 1. Suppose Fry's Electronics, Inc. provides $10,500 of computer support at the Dallas-Fort Worth store during the month of November. How would Fry's Electronics record this transaction? Assume all customers paid in cash. What financial statement(s) would this transaction affect? 2. Assume Fry's Electronics, Inc.'s Modesto, Calforniz, location received $24,000 for an annual contract to provide computer support to the local city government. How would Fry's Electronics record this transaction? What financial statement(s) would this transaction affect? 3. What is the difference in how revenue is recorded in requirements 1 and 2 ? Clearly state when revenue is recorded in each requirement. Decision Case F:21 Your friend, Dean MeChesney, requested that you advise him on the effects that certain transactions will have on his business, A-Plus Travel Flanners. Time is short, so you cannot joumalize the transactions. Instead, you must analyze the transactions without a journal. MeChesney will continue the business only if he can expect to earn a monthly net income of $6,000. The business completed the following transactions during June: a. MeChesney deposited $10,000 cash in a business bank account to start the company. The company issued common stock to MeChesney. b. Paid $300 cash for office supplies. c. Incurred advertising expense on account, $700. d. Paid the following cash expenses: administrative assistant's salary, $1,400; office rent, $1,000 e. Earned service revenue on account, $8,600. f. Collected cash from customers on account, $1,200. Requirements 1. Open the following T-accounts: Cash; Accounts Receivable; Office Supplies; Accounts Payable; Common Stock; Service Revenue; Salaries Expense; Rent Expense; and Advertising Expense. 2. Post the transactions directly to the accounts without using a jourmal. Record each transaction by letter. Calculate account balances. 3. Prepare a trial balance at June 30, 2024. 4. Compute the amount of net income or net loss for this first month of operations. Would you recommend that MeChesney continue in business