You are presented with the following transactions for Paddick Enterprises Ltd. for the month of February:

Feb 2 purchased supplies on account, $600.

3 Purchased equipment for $10,000 by signing a bank loan due in three months.

6 Earned service revenue of $50,000 Of this amount, $30,000 was received in cash. The balance was on account

13 Declared and paid $500 of dividends to shareholders

18 A customer paid $2,000 in advance for services to be performed next month.

18 Paid the amount owing for the supplies purchased on February 2.

23 Collected $20,000 of the amount owing from the February 6 transaction.

24 Paid office expenses for the month, $22.000

22 Recorded salaries due to employees for work performed during the month $14,000.

28 Paid interest of $50 on the bank loan signed on February 3

Instruction:

a) For each of the above transactions prepare a (1) basic analysis, (2) equation analysis, and (3) debit- credit analysis.

b) Journalize the transactions.