Using the column headings provided below, show the effect, if any, of the transaction entry or adjusting entry on the appropriate balance sheet category or on the income statement by entering the account name, amount, and indicating whether it is an addition (+) or subtraction (). Column headings reflect the expanded balance sheet equation; items that affect net income should not be shown as affecting stockholders' equity.

The firm borrowed $4,000 from the bank; a short-term note was signed.

Merchandise inventory costing $1,500 was purchased; cash of $400 was paid and the balance is due in 30 days.

Employee wages of $2,000 were accrued at the end of the month.

Merchandise that cost $700 was sold for $900 in cash.

This month's rent of $1,400 was paid.

Revenues from services during month totaled $13,000. Of this amount, $4,000 was received in cash and the balance is expected to be received within 30 days.

During the month, supplies were purchased on account at a cost of $1,040, and debited into the Supplies (asset) account. A total of $800 of supplies were used during the month.

Interest of $480 has been earned on a note receivable, but has not yet been received.

Transaction/Adjustment Assets Liabilities Stockholders' Eguity Net Income