wing transactions occurred during a recent year:\ a. Paid wages of

$300

for the current period (example).\ b. Borrowed

$1,500

cash from local bank using a short-term note.\ c. Purchased

$600

of equipment on credit.\ d. Earned

$120

of sales revenue; collected cash.\ e. Received

$240

of utilities services, on credit.\

f

. Earned

$530

of service revenue, on credit.\ g. Paid

$90

cash on account to a supplier.\ h. Incurred

$25

of travel expenses; paid cash.\ i. Earned

$120

of service revenue; collected half in cash, with balance on credit.\ j. Collected

$55

cash from customers on account.\ k. Incurred

$120

of advertising costs; paid half in cash, with balance on credit.\ Required:\ For each of the transactions, complete the following table, indicating the account, amount, and direction of the effect (+ for incre and - for decrease), of each transaction under the accrual basis. Include revenues and expenses as subcategories of stockholde equity, as shown for the first transaction, which is provided as an example.\ Determine the company's preliminary net income.

I. wing transactions occurred during a recent year: a. Paid wages of $300 for the current period (example). b. Borrowed $1,500 cash from local bank using a short-term note. c. Purchased $600 of equipment on credit. d. Earned $120 of sales revenue; collected cash. e. Received $240 of utilities services, on credit. f. Earned $530 of service revenue, on credit. g. Paid $90 cash on account to a supplier. h. Incurred $25 of travel expenses; paid cash. i. Earned $120 of service revenue; collected half in cash, with balance on credit. j. Collected $55 cash from customers on account. k. Incurred $120 of advertising costs; paid half in cash, with balance on credit. Required: 1. For each of the transactions, complete the following table, indicating the account, amount, and direction of the effect (+ for incre and - for decrease) of each transaction under the accrual basis. Include revenues and expenses as subcategories of stockhold equity, as shown for the first transaction, which is provided as an example. 2. Determine the company's preliminary net income. I. wing transactions occurred during a recent year: a. Paid wages of $300 for the current period (example). b. Borrowed $1,500 cash from local bank using a short-term note. c. Purchased $600 of equipment on credit. d. Earned $120 of sales revenue; collected cash. e. Received $240 of utilities services, on credit. f. Earned $530 of service revenue, on credit. g. Paid $90 cash on account to a supplier. h. Incurred $25 of travel expenses; paid cash. i. Earned $120 of service revenue; collected half in cash, with balance on credit. j. Collected $55 cash from customers on account. k. Incurred $120 of advertising costs; paid half in cash, with balance on credit. Required: 1. For each of the transactions, complete the following table, indicating the account, amount, and direction of the effect (+ for incre and - for decrease) of each transaction under the accrual basis. Include revenues and expenses as subcategories of stockhold equity, as shown for the first transaction, which is provided as an example. 2. Determine the company's preliminary net income