You and your friend Jim decide to start a pet sitting business in the form of a corporation. Record the following transactions in the appropriate t-account. Be sure to reference your entries. a. On January 1 you each contribute $1,000 in exchange for 200 shares (each) of $1.00 par value common stock. b. The company borrows another $500 at 6% from a bank. Interest is calculated based on a 360 day year c. The company purchases $600 of supplies on account d. The company performs pet sitting services for $300 cash e, The company performs pet sitting services for $400. The customer agrees to pay later f. A customer prepays $500 for the next 3 months of services. The services will start next month. g. The company hired an employee to help. He received $50 for wages. h. The company used $100 of supplies in performing its services i. The customer in e. pays $200 of the amount owed. j. The company paid $250 of the amount owed in c. above. k. The company bought back $500 of common stock. Required: 1. Analyze each transaction and record the debit and credit in the t-account. 2. Using the proper t-account format, determine the ending balance of each account. Be sure to make an accrual for interest expense 3. Transcribe the t-account balances to a trial balance (TB). In the TB use a positive amount for debits and negative amount for credits. Be sure your TB is in proper TB order. 4. Prepare a B/S, IS and Stmt of SHE. SHE statement should contain 5 columns, 1 of which should be a total column. You must use the proper signage in the financial statements. For example liabilities are negative in the TB (credits) but are displayed as positive amounts in the financial statements. Note Payable Accounts Payable Capital Stock APIC Accounts Receivable Unearned Revenue Supplies Expense Interest Exp Pet Sitting Revenue Accrued Interet Treasury Stock Trial Balance Account Dr (Cr) BS IS