World Wide Webster entered into the following activities during January of its first year of operations. Prepare a journal entry to ensure that the basic accounting equation balances for each transaction. Then, summarize the effects of each transaction in the appropriate T-account. (See page 5 for T- accounts.) (a) Provide website design services for $40,000. Debit and credit the accounts affected Ensure the equation still balances and debits = credits Assets Liabilities + Stockholders' Equity (b) Provide website design services to Acme Company, for $20,000 on account. Debit and credit the accounts affected Ensure the equation still balances and debits = credits Assets Liabilities Stockholders' Equity (c) Collect $18,000 from Acme Company on account. Debit and credit the accounts affected Ensure the equation still balances and debits = credits Assets Liabilities Stockholders' Equity (d) Sell a $1,000 gift certificate. Debit and credit the accounts affected Ensure the equation still balances and debits = credits Assets Liabilities Stockholders' Equity (e) Customer redeems $1,000 gift certificate for website design services. Debit and credit the accounts affected Ensure the equation still balances and debits = credits Assets Liabilities Stockholders' Equity (f) Paid employees $16,000 earned. Debit and credit the accounts affected Ensure the equation still balances and debits = credits Assets Liabilities Stockholders' Equity (g) Paid $3,000 insurance for next year in advance. Debit and credit the accounts affected Ensure the equation still balances and debits = credits Assets Liabilities + Stockholders' Equity (h) Paid $9,000 rent for next six months in advance. Debit and credit the accounts affected Ensure the equation still balances and debits = credits Assets Liabilities +Stockholders' Equity (i) Received $250 telephone bill for previous month, to be paid next month. Debit and credit the accounts affected Ensure the equation still balances and debits = credits Assets Liabilities Stockholders' Equity (i) Received $500 utility bill for this month, to be paid immediately. Debit and credit the accounts affected Ensure the equation still balances and debits = credits Assets = Liabilities + Stockholders' Equity